DMH Stallard and
Kreston Reeves have advised the shareholders of MS Roofing Supplies (MSR) on its acquisition by Independent Builders Merchant Group (IBMG).
Established in 2003, MSR is an independent business providing a range of products for both pitched and flat roofs from its five locations in Brighton, Chichester, Crawley, Portslade and Worthing.
Led by Danos Athanasi, the DMH Stallard team (including Mark Diamond and Chris Gleeson) provided legal advice on the deal which will allow IBMG’s roofing division to expand geographically and extend the products it offers.
IBMG is the largest independent merchant in the South of England.
Danos Athanasi said:
"Having worked with them very closely for a number of a years together with Darren at Kreston Reeves, I am absolutely thrilled to have advised Tony and Glynn on this transaction, which brings to a close a very successful part of their lives and allows them to look to the future. These companies share a common independent ethos and commitment to first-class customer service, making this partnership a perfect fit while providing opportunities for future growth."
Tony Siriano, Managing Director of MS Roofing Supplies, who is retiring from the business, said:
"It has been a great honour to lead the employees of MS Roofing Supplies through the years, and having made the decision to step away from the business, it seemed logical to find a partner who would ensure MS Roofing Supplies fulfils its potential.
"Danos, Mark, Chris and Darren pulled out all the stops to get this over the line and Glynn and I will always be grateful for the countless hours they put in and their guidance and support throughout the whole process."
Kreston Reeves provided M&A advisory services to MSR.
Darren Hurdle, Corporate Finance Director at Kreston Reeves, said:
"We are delighted to have advised Tony and Glynn on the sale of MSR. IBMG is a natural fit for the business, and the acquisition of MSR continues IBMG’s expansion in the South of England. Having exited the business on completion, we wish Tony and Glynn every success in the future."