Stevenswood heads west with Sameday seven
20th June 2017

Fast-growing trade counter group Stevenswood yesterday (June 19) announced the acquisition of Sameday Holdings Ltd, not only adding seven more outlets to its existing chain of 30 but also placing it firmly in the south west of England.

The combined group will have revenues of over £45m and employing over 180 people. Sameday MD 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.

Stevenswood has now more than doubled in size and massively expanded its footprint across the UK in less than eight months since it gained 11 units in a swap with Polyframe Read Story then earlier this year acquired the £10million-sales Truemans chain Read Story.

Cheltenham-based Sameday has units in Cheltenham, Gloucester, Cinderford, Bristol, Swindon, Bromsgrove and Reading, adding to its existing coverage of Scotland and the north and south east of England. Established in 2006, it employs 20 people.

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.

www.stevenswood.co.uk