A Wirral-based manufacturing company has been acquired by a successful Cheshire entrepreneur.
BMB Weatherproof Canopies, which makes canopies for forklift trucks, has been bought by William Ravenna.
Ravenna made the most “compelling offer” out of more than 20 companies which expressed an interest in purchasing the Wallasey-based firm.
BMB, led by Managing Director Brian Blanchfield, employs 38 people and has a turnover in excess of £2million.
Phillip Bates, Principal at Neston-based accountants Phillip Bates & Co, has acted for BMB for more than 15 years and advised Blanchfield on the sale.
Phil said: “William Ravenna stood out as the ideal acquirer of BMB because of his understanding of the sector and his passion to take forward this successful business.
“We have worked with Brian and his team for 15 years and, more recently, have helped him get the business ready for sale including developing the management team and putting in place the best possible administrative and financial systems.”
Blanchfield said: “Phil’s advice and guidance has been invaluable over the years and he has become a key part of our business, including attending monthly board meetings.
“Running a successful business requires many different skills and I would be the first to admit that the accountancy side of things is not my strongest area. This is why the relationship with Phil has been so important – he is insistent on setting realistic yearly budgets and each month he is able to give us a good indication about our finances and the general state of the market.
“He is also invaluable in terms of helping us understand the financial pressures around stock control, overtime and other key factors in a business. Phil has played a crucial role in ensuring that our business was ready for sale.”
Jonathan Brown and Michael Murphy from law firm Hill Dickinson’s Liverpool office also acted for BMB.
NOTES TO EDITORS
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