Stevenswood has announced the successful acquisition of Sameday Holdings, continuing its aim to become ‘the leading trade counter distributor in the UK’.
Established in 2006, Sameday operates a network of seven branches in the west of England, from Bristol to Reading, distributing windows, doors and conservatory roofs to the installer market. Headquarted in Cheltenham, the company employs 20 people.
Sameday’s trade counters are described as ‘highly geographically complementary’ and are said to provide Stevenswood with the perfect opportunity for further expansion and to strengthen its presence in the West. The new combined group will continue to be headquarted in Livingston and will have over 37 branches across the UK, generating revenues of over £45m and employing over 180 people. Sameday’s managing director, Mike Woodend, will join the Stevenswood senior management team to contribute the combined company’s growth strategy, which includes plans to open several new branches later this year.
John Declerck, group chief executive of Stevenswood, said: “Our goal is to increase our network of trade centres over the next five years, to become the leading trade counter distributor in the UK. We aim to achieve this through a mix of acquisition, new sites and organic growth. Sameday Trade Frames completes a gap in our offering and takes us one step closer to achieving this, while providing the widest product range and highest levels of customer service in the industry.”
Justin Matravers, founder of Sameday added: “The coming together of Sameday and Stevenswood is the logical progression for the strong business that Mike and I have developed over many years. The alignment of our goals, values and vision, offers significant benefits for both organisations. I am confident that Sameday is in good hands and wish the enlarged group every success going forward.”
Stevenswood and Cairngorm Capital were advised on this transaction by PwC (financial and tax) and Bond Dickinson (legal). Sameday was advised by Napthens (legal). Clydesdale and Yorkshire Bank Group provided working capital facilities to support the combined group.
