Sustainium, the newly-formed group aimed at building a chain of acquired retail businesses, has announced its first purchase, Wolverhampton Glass, along with the intention to begin investing in new premises immediately.
The business is the first of eight that the new group currently in talks as part of group’s aim to target owners of businesses in the £750k-£10million bracket who may be looking to sell or retire, initially in the M5/M4/M40 triangle.
Neal Harper, MD of the new group, said: “Thanks to four decades of experience, it has an excellent reputation locally, and we are already investing in new premises, an exciting new showroom and expanding the management team. Our focus now is to build on that reputation to enable Wolverhampton Glass to thrive.”
Previous owner Steve Newey said of the sale: “It was the right time to sell and dealing with Neal and the Sustainium Group made the whole process straightforward as they were able to move quickly and decisively.
“With more than 30 years’ experience, they really know the home improvement industry and their passion and commitment means that Wolverhampton Glass is in safe hands.”
The Sustainium Group is offering to purchase 100% of the shares of a business, while allowing it to continue to operate under its own name. It also aims to retain existing staff, while owners may be retained on a consultancy basis or even in a key role within the business by agreement.