There is no doubt that finding a strategic buyer is the best way to maximise the value of your business when it comes to a sale. If you can find two competing buyers then it ensures you are in the strongest possible negotiating position. This is exactly what The Business Partnership achieved in the sale of CAMGAS Ltd to Flogas Britain.
CAMGAS Ltd has been in Cambridge and in the same family for over 40 years providing fires, stoves heaters, BBQ’s and a range of bottled gas for cooking, heating and leisure. After such a long time in the business the owners wanted to retire.
With a very strong position in Cambridge as the major supplier of bottled gas and with superb facilities for secure storage CAMGAS was the perfect acquisition for a national bottled gas distributer looking to secure a stronghold from which to build.
Flogas Britain is part of FTSE Listed DCC Energy and one of the UK’s top LPG, LNG and Mains gas providers with an ambitious programme to build extensive national coverage for bottled gas. But they are not alone and another smaller but no less dynamic business was also extremely keen for the same reasons.
We took the business to market in late 2016 and generated significant interest in addition to the two strategic buyers however the synergies were not as great which just left the strategic buyers in the race. Both made very good initial offers with very different deal structures which presented an excellent opportunity to negotiate the best possible outcome. The final deal with Flogas Britain was a tremendous result for our clients.
Our clients, at their request, will continue to work part time in the business for a period of months as they ease themselves into retirement.