Leading Luton Accountants Foxley Kingham Whittaker celebrated the launch of its new Business Services division with the completion of its first major deal.
The firm played a key role in the merger of two successful local businesses, SF2 Retail Solutions Limited and the GPX Group Plc, under a new holding company The Gemini Group. The alliance brings together SF2’s design expertise and experience with many major High Street names, with GPX’s catalogue and Internet-based ordering and distribution infrastructure and their own experience with such giants as Orange and John Lewis. Together, under the Gemini Group banner, these two are set to become a major force in the Point of Sale arena.
Lawrie Alderman and Dave Galan, Executive Chairman and Chief Executive respectively of the new merged business made the following joint statement:
“We are very pleased to have completed on our merger. We have known each other for some time and have a mutual respect for each other’s businesses and operations. By bringing our knowledge and expertise together we will become a major operator in the point of sale a retail display sector, with plans for significant growth with new products and services to our enlarged customer base.”
The deal was managed by Steve Sansom, who heads the Business Services Team at Foxley Kingham. His role was to provide advice and guidance on the terms of the agreement and to drive the transaction forward to meet what was a very tight deadline.
Lawrie Alderman said: “Both David and I had a business to run and it was imperative that we had someone to manage this deal for us. Steve made sure that the process kept going by identifying potential blockages and making sure that both sides dealt with matters in a timely and orderly way. We are extremely grateful to Steve and Geoff Whittaker at Foxley Kingham for making the merger a reality.”
Steve Sansom commented: “Normally in a transaction either the buyer or seller takes the lead to get the deal done. In this friendly merger the key was to make sure things moved forward in a disciplined way and that both sides were fully aware of all relevant matters to avoid any bad will or suspicion creeping in. I am delighted that this was achieved and I know that Lawrie and David will make an excellent team to drive the new business forward.”
The Business Services Division offers specialist expertise in business coaching and corporate finance to help successful owner managed businesses achieve their full potential.
Our experience shows that as businesses grow, the way in which they are run often needs to undergo fundamental changes in order for them to continue to flourish. However, the introduction of essential new expertise and management structures can prove a major stumbling block to businesses as they expand.
Similarly a point will inevitably be reached when the business needs to step up a gear in order to keep up with demand or to sustain a desirable growth rate. This may mean investing in bigger premises, more advanced systems, new product lines; or even acquiring or joining forces with other businesses.
The decisions made with regard to both cultural and financial aspects of the business, and the way in which those transitions are handled, can be pivotal to the future success of the organisation. Now, with Foxley Kingham’s expertise and guidance, businesses in the Luton area will have the helping hand they need to find the right solutions to these and other dilemmas, undertake effective business development transactions, and generally pave the way to a bigger and brighter future.
If your business has outgrown itself, or isn’t achieving its full potential, or if you are considering a corporate transaction and are unsure how best to proceed, please give Steve Sansom a call on 01582 540800 and let’s make your plans a reality.
