The Business
L G Farmer (Engineering) Ltd is a long-established manufacturer of electroplated diamond cutting tools operating from a dedicated facility in Rugby, Warwickshire. With more than 40 years of trading history behind it, the company built a formidable reputation for producing high-precision, bespoke tooling for some of the most demanding sectors in industry – including aerospace, power generation, and specialist dental applications.
The business had developed a loyal and geographically diverse customer base both across the UK and internationally, supported by long-standing supplier relationships and ISO-certified manufacturing processes. Its expertise was not easily replicated, operating within a niche where tolerances are tight, standards are exacting, and relationships are hard won. Here, L G Farmer had carved out a trusted position as a preferred partner to sectors where quality is not option.
By any measure, this was a business that had stood the test of time – technically capable, financially consistent, and underpinned by genuine intellectual and operational depth.
The Challenge
After more than four decades of ownership, the shareholders took the decision to bring the business to market as part of a carefully planned retirement strategy. Following the loss of a close family member a number of years earlier, the sale also represented an opportunity for the family to step back from the business and begin a new chapter.
Having built the company from the ground up, the family’s priority was not simply achieving a fair value. It was equally important to find a buyer who recognised the business’s technical expertise and long established reputation, while also understanding its long term potential. The family were also keen to achieve a smooth transaction process that would allow them to move forward with confidence.
Like many owner managed businesses, the shareholders had limited experience of the sale process itself and required clear guidance throughout each stage of the transaction. Establishing a structured approach early in the process helped build confidence and proved key to progressing the sale successfully.
What We Did
The focus was on positioning the business correctly and ensuring buyers fully understood the specialist nature of the operation. This was not a volume manufacturing business, but a highly technical engineering company operating within a niche market where expertise, precision and reputation had been built over many years.
A detailed valuation was undertaken to reflect the company’s strong financial performance, high gross margins and specialist market position. We also prepared a comprehensive Sales Information Memorandum which highlighted the business’s bespoke manufacturing capabilities, loyal customer relationships and opportunities for future growth through new markets, additional plating techniques and an increased digital presence.
Alongside this, we ran a carefully managed process, screening a number of interested parties before identifying Garland Investment Holdings Limited as the strongest fit. Their intention to build a complementary group of specialist engineering SMEs aligned well with the shareholders’ objectives and gave confidence that the business would continue to develop under new ownership.
With the proposed BADR changes approaching in April 2026, maintaining momentum throughout the process was essential. Having been instructed in August 2025, we kept the transaction moving steadily through each stage of the deal.
The Outcome
Completion was achieved at the end of March 2026, bringing the process to a successful close within the targeted timeframe and ahead of the 6 April BADR deadline, preserving a meaningful tax advantage for the family.
The sale included the freehold property, providing a genuinely clean exit and one that settled the family’s affairs in full and allowed them to step back from the business with complete peace of mind.
L G Farmer now joins the Garland Investment Holdings portfolio, where its capabilities and customer relationships will continue to be developed as part of a wider engineering group.
From instruction to completion: seven months.
In Their Words
Elaine Morrice, Managing Director, who steered the business through its final years before bringing it to market as part of a planned family retirement, said:
We worked with Tim Bayley at Business Partnership during the sale of our business. He was a great support throughout the entire process. Despite a number of personal challenges on both sides, Tim remained consistently professional, patient, and considerate. He was always true to his word, responding when h said he would and keeping us informed at every stage of the sale. Having a reliable and steady point of contact made a real difference during what can be a stressful time. As a family we are very grateful for his guidance and would happily recommend him to others.
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Darren Garland, Managing Director of Garland Investment Holdings, who acquired the business as part of a wider strategy to build a complementary network of niche engineering SMEs, said:
The acquisition of LG Farmer Engineering Ltd was made much smoother thanks to a trusted, existing relationship with the team. Tim Bailey was fantastic to deal with; he knew exactly when to step back and let me dig into the due diligence, yet was always on hand to add value and manage intermediary communications the moment he was needed.
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Tim Bayley, the Business Partnership advisor who guided the family through every stage of the sale, added:
Working with a family business brings a deeply personal element to this industry. A few years ago, the Morrice family suffered the sudden loss of the company’s founder; a much-loved husband and father. In the years that followed, the family continued to run the business with the support of an excellent second-tier management team. However, long-term ownership was not part of the family’s future plans, and Tim and Nikki at Business Partnership were instructed to bring the business to market.
From the outset, Elaine, Hannah and Elizabeth were welcoming, proactive and fully engaged throughout the process. We worked closely together through the due diligence stage and nothing was ever too much trouble. Their professional and considerate approach made the transaction a pleasure to be involved in.
Particular thanks also go to Rees Herrod, Legal Director at Lodders Solicitors, who acted on behalf of the Morrice family, and Mark Savill at BCRS, who secured funding for the buyers.
Darren Garland of Garland Investment Holdings Limited proved to be a highly professional and motivated acquirer of SMEs and was excellently supported throughout by his advisor and business coach, Peter Sinnott. All parties conducted themselves with professionalism and experience from start to finish.
Thinking About Selling Your Business?
The story of L G Farmer is a reminder that the right support, at the right time, can make all the difference – commercially and personally. This was a business sale shaped as much by family circumstance as by financial ambition, and it required an advisor who understood that distinction.
At Business Partnership, we take the time to understand what you have built, what matters most to you beyond the headline figure, and what a genuinely successful outcome looks like for you and the people involved. Whether that means managing a sensitive personal situation with care, completing ahead of a tax deadline, or bringing structure and confidence to a process you have never navigated before – we are here to make it happen.
If you are thinking about selling your business, or simply want to understand your options, we would welcome a conversation.
Whether you’re selling, buying, or planning for the future, Business Partnership is here to help. Contact us today to speak with your local Regional Partner and start your journey toward success.
Whether you’re selling, buying, or planning for the future, Business Partnership is here to help. Contact us today to speak with your local Regional Partner and start your journey toward success.