Springboard Brings New Dawn to Leading Blinds Company
June, 2016 - Birmingham, England
Springboard Corporate Finance is delighted to announce that it has advised on the simultaneous acquisition of Dearnleys and Pentel, leading suppliers of commercial blinds, by Rod Roberts-Dear.
Rod Roberts-Dear, whose previous roles include Managing Director within the automotive group Inchcape and Marketing Director of Continental, will now become Managing Director of Dearnleys in Wakefield and its sister company Pentel Contracts in Salford. The businesses were acquired from Andrew and Rachel McHale who have retained a minority stake in the business.
Dearnleys and Pentel, which operate as one entity, are leading manufacturers and installers of blinds, solar shading solutions and cubicle tracking systems to commercial and public buildings with a primary focus on the north of England. The businesses employ 40 staff across two sites, with Dearnleys, which was established over 80 years ago, covering the area from the North East down to the East Midlands and the South East and Pentel, established in the 1980s, covering the North West, the West Midlands and Wales.
David Neate and Jonathan Wright led the transaction on behalf of Springboard. David commented on the transaction: “We are delighted to have advised Rod Roberts-Dear on the acquisition of Dearnleys and Pentel. Both companies have a strong reputation and proven track record in their market place, under the direction of Rod Roberts-Dear, who has proven credentials in new business development, I am confident the businesses will continue to grow.”
The transaction was funded by Enterprise Ventures led by Wayne Thomas with Paul Edmeades of Shawbrook Business Credit providing debt funding and an invoice discounting facility. Alison Scott of Harrison Clark Rickerbys Worcester provided legal advice to Newco.
