The continued success of an international importer of slate for the building industry has been secured by Swindon’s corporate finance specialists Watersheds.
The deal sees European Slate Company Limited (ESCO) acquired by Euston Ventures Ltd, positioning the business for growth ahead of an eventual upturn in the UK housing market.
With the current Labour Government targeting the construction of 1.5 million new homes over the next five years, alongside proposed planning reforms, Watersheds identified a timely opportunity to bring ESCO to market.
ESCO is a well-established importer and distributor of high-quality natural roofing slate, sourcing from sustainable quarries with significant reserves and advanced extraction capabilities across Spain, Brazil, Wales, and Malaysia. The business supplies builders’ merchants throughout the South of England and the Midlands, earning a reputation for quality products and reliable service.
A housing industry recovery will eventually boost investment into new residential developments and, in turn, drive growth within the roofing market, Watersheds identified Euston Ventures Ltd, a firm with a reputation for acquiring businesses offering premium products and excellent service.
By taking the time to fully understand the market, and the goals of the owner, Watersheds’ Partner John Stopher achieved the best possible outcome at the right time for ESCO.
John explained: “A business sale can often be a life-changing process, and we understand it can be both complex and emotionally demanding. By building strong relationships with our clients, we support them throughout the journey; understanding their aspirations, managing the transaction process, and being on hand whenever needed.
“Euston Ventures already owned a complementary business: European Plastics, a specialist manufacturer of rubber roofing components. So, thanks to sharing industry expertise and customer bases, although operating in different geographies, there was a clear opportunity for future growth thanks to this acquisition.”
ESCO owner Mike Farelly, who has spent his career in the slate industry, built the company alongside a loyal and experienced team, many of whom had worked with him prior to the company’s formation. Ensuring the right buyer was found was therefore a key priority.
“It was important to me that the business was placed in safe hands and that my team would not only be looked after but also given the opportunity to ‘step up’,” Mike said. “Watersheds made the process straightforward. They spoke in plain English, explained my options clearly and provided genuine advice throughout.
“I knew the whole team was there to support me every step of the way.”
Professional advice was also provided by Thrings and Cazenove Capital.
For more information on Watersheds, visit www.watersheds.ltd.uk.
