A 107-year-old family business is looking towards a future in safe hands thanks to a sale facilitated by Swindon’s corporate finance specialists, Watersheds.
WH Shoebridge & Sons Ltd was formed in 1919 and has been run by the same family ever since. Operating across a large area of the East Midlands from three sites in Northampton, Wisbech and Peterborough, it specialises in the sale and repair of electric motors, geared units, and all associated products and spares.
Now owned by the third generation, managing director Robert Shoebridge appointed Watersheds to secure a fitting future for the business upon his retirement. Watersheds has supported the growth and success of the business through acquisitions and disposals since 2002, when they were initially appointed to advise on the purchase of Britannia Engineering.
The sale was led by James Owen, Partner at Watersheds, who shortlisted suitable buyers who would ensure that the 100-year-old vision and ethos of the company would be retained. The ideal opportunity was identified as Boardley & Roberts, a regional firm serving East Anglia with a similar specialism. Directors at Boardley & Roberts were looking to grow their business to compete with national businesses on scale and capability. By acquiring WH Shoebridge & Sons, with its excellent reputation, they would be able to realise their growth ambitions whilst retaining the flexibility, responsiveness and personable service of a local, family-owned business.
James said: “Selling a family-owned business can be a very delicate process, especially one with such a legacy and reputation for ‘punching above its weight’ as Shoebridges. It was very important for us to identify the right buyer who would understand the value of this and secure its ongoing future, for both the reassurance of staff and their high-profile, blue-chip customer base.
“We worked closely, one-to-one and face-to-face, with Robert to fully understand what he wanted in a buyer and then ran an extensive yet highly confidential exercise within this close-knit industry to find the right buyer in the right position to complete a deal.
“Being asked to lead the deal for the sale of their main family business, and three generations of dedication and expertise, was a privilege for us. Robert knew that because of our previous successful work with him, that we would deliver again and that we would be completely aligned and focused with his wish to sell to someone in the trade, and we’d keep on working for as long as it took to find the right buyer.”
Robert Shoebridge added: “This is the third time I have worked with Watersheds and I would welcome the opportunity to work with them again in the future, should the chance arise. I’m delighted that Watersheds has been such an important part of this journey.”
DFA Law and Gravita also advised on the deal. Watersheds is a specialist firm of corporate finance advisers, helping clients to buy and sell private companies and raise money. For more information on Watersheds, visit www.watersheds.ltd.uk.
