Sale of Supply Plus

We were appointed by Supply Plus to advise on the sale of 80% of its share equity

PEM were appointed by Supply Plus to advise on the sale of 80% of its share equity. We supported the vendors throughout the negotiation process.

Based in Cambridgeshire, Supply Plus design, manufacture, supply and distribute safety and fuel delivery equipment to over 40 countries. Their products are used by fire and rescue, police military services and OEM partners with the UK accounting for 60% of sales.

Supply Plus is a market leader supplying over 90% of all ladders used by fire services in the UK and highly respected in the industry. This was key to marketing the business to both UK and foreign investors and ultimately secured inward investment into the UK from the buyer.

The negotiation process moved quickly with multiple offers being received and assessed. The entire negotiation process was conducted over a period 8 months despite the economic headwinds and the NS&I clearance requirements.

80% of the shares were sold for a combination of upfront consideration and earnout. Completion utilised the locked box completion mechanism and split exchange and completion. Derek Gotts and Patrick Holt will retain 15% and 5% respectively with a 2 year sell option negotiated.

Legal advice to the vendors was provided Daisy Divoká from Marriott Harrison.