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A South West based building supplies specialist has undergone a family and management buyout, facilitated by Ashfords LLP and other advisers from the region.
RGB Building Supplies is headquartered in Barnstaple and operates across the South West, trading from 16 depots across Devon, Cornwall and Somerset. It also operates Rock Trading and Distribution in Umberleigh.
The majority of the £52m-turnover company was previously owned by the Isaac family and has now been taken over by the company management but has allowed the family members to exit or reinvest in RGB.
Ashfords' Corporate Team advised on the buyout with Paul Julian, Relationship Director at Santander, and Andrew Killick, Corporate Finance Specialist at Francis Clark.
Louise Workman, Corporate Partner at Ashfords LLP, commented:
"RGB is a leading family owned builders merchant in the South West and plays a key role in the construction sector. We were delighted to assist in helping their presence and strong values continue, and with the complex family shareholding structure this case was handled with the utmost sensitivity and offered real value for the parties involved as well as providing positive strategic growth for the future."