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Accountancy

Midlands catering and refrigeration component supplier acquired by U.S Buyer

Warwickshire based commercial kitchen and refrigeration component supplier, Oxford Hardware, has been acquired by U.S. based Kason Industries, Inc.

Oxford Hardware is the market leading component supplier to the commercial catering and refrigeration industry.

Kason Industries, Inc., headquartered in Atlanta, Georgia, is one of the largest suppliers of hardware and components for refrigeration, foodservice and industrial equipment. After a working partnership of many years, the acquisition enables Kason to cement its UK presence as leader in the sector.

The shareholders of Oxford Hardware brought in the West Midlands Corporate Finance team from top 30 advisory firm, Bishop Fleming, to advise on the deal.

Oxford Hardware Director David Cleave said: “’Charles Davey and Phil Redgate at Bishop Fleming were unbelievably helpful and excellent guides thorough the labyrinths of a company sale. It was a deliberate two-year process but by the time of the take-over every facet had been covered. I could not recommend them more and the same goes for the brilliant legal team at Roxburgh Milkins; Jason Milkins and Laura Guest”

Bishop Fleming’s Corporate Finance Partner, Charles Davey, commented: “I am delighted to have delivered this transaction for the vendors. They have built up a market leading brand in Oxford Hardware since their launch in 2001, and Kason Industries provides an ideal partner to deliver the next stage of its development. We had a deliberate strategy to ensure that the Company was prepared for the transition of ownership and with Kason, we know that we have found the perfect long-term partner for the Company”

Roxburgh Milkins provided legal advice to the shareholders of Oxford Hardware. Partner Jason Milkins commented, “We very much enjoyed getting to know Oxford Hardware, preparing the company for a transaction and ultimately being able to help David achieve his desired exit strategy”. David Cleave will continue to work for Oxford Hardware for several years.

Harrison Clark Rickerbys provided legal advice to Kason Industries Inc.

Bishop Fleming’s areas of expertise include: M&A Lead Advisory (disposals and acquisitions), Management Buyouts, Due Diligence, Exit Planning, Fundraising, Strategic Advisory, Strategic Board Support, Business Planning and Modelling and Valuation.