William Whiteley & Sons (Sheffield)
Sale of William Whiteley & Sons (Sheffield) Limited
Acquirer / Funder
Loks Holdings
Value
<£5m
Deal Type
Sale
Sector
Manufacturing
Location
UK
Overview
Case Study: Sale of William Whiteley & Sons (Sheffield) Limited to Loks Holdings Limited
Client: The shareholder directors of William Whiteley
Transaction: Retirement sale
Advisers: Eastwood Anglo Corporate Finance; Austin Moore Solicitors
Overview:
Sally Ward (née Whiteley) was the final family member to own, together with her husband Jeremy, the last industrial scissor maker in the UK, William Whiteley, founded in Sheffield in 1760 and the oldest scissorsmith in the Western world. Under their ownership since 1997, the business was transformed, moving to modern premises on the outskirts of Sheffield, introducing modern manufacturing and materials sourcing methods whilst retaining traditional craft skills. They responded to the challenges of covid by developing direct marketing channels to discerning and loyal retail customers in the UK and abroad, developing a heritage retail brand alongside longstanding industrial and trade customers.
Our Approach
As there was no family continuity, when the shareholders decided that they needed to retire they approached Eastwood Anglo, who they had known for some time, for advice on how best to proceed. Having analysed recent financial performance, we advised on likely value and the best marketing approach which would optimise buyer interest whilst maintaining confidentiality to minimise concern to customers and staff. We kept close to the company throughout the process, monitoring and keeping interested parties informed on performance and developments. We were able to present the owners with a choice of credible offers and to manage what proved to be an extended and thorough due diligence process.
Our hands-on approach ensured that the shareholders’ interests were fully represented at every step, while providing guidance on commercial and legal matters. Coordination between the corporate finance and legal teams enabled a streamlined, efficient transaction.
