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PKF Francis Clark Corporate Finance are delighted to have acted as lead advisors for the shareholders on the sale of Arada Limited to the management team.
Arada, founded by John Burgis in the 1970’s and based in Axminster, is one of the UK’s leading independent family owned manufacturers of wood and multi-fuel stoves. The deal sees the current management team of Mark Brettell and Jon Butterworth acquiring a majority stake, from the founding Burgis family, who will retain a minority stake in the business. The transaction has provided the business with an appropriate funding structure to facilitate the staggered exit of the long standing family shareholders, and will help to support the current management team’s future growth strategy.
Jennifer Burgis, whose father founded the business, commented, “The legacy of the business was extremely important to our family. We have such a strong heritage in the region and are, therefore, delighted that the long serving management team are taking over. They understand the DNA of the business and we wish the best to John and Mark as they take the business from strength to strength, and to all our employees who have worked so hard to make Arada successful”.
The owners of Arada Ltd, the Burgis family, were advised on the sale by Paul Crocker, Matthew Willmott and Tom Hicks of PKF Francis Clark Corporate Finance. Duncan Sykes, Tim Young, Will Whitt and Chris Cook at Foot Anstey provided legal advice.
Paul Crocker, Partner at PKF Francis Clark, commented: “This long standing family owned business is a fantastic example of a successful private UK company. Supporting the family through this transaction has been incredibly worthwhile and we look forward to seeing the management team continue to develop the business”.