A Gloucestershire-based garden machinery ecommerce business has been acquired by an entrepreneur in a seven-figure deal which was supported by prominent advisers.
Steve Williams has snapped up Mowers-Online.co.uk.
The platform, owned by Cheltenham Mowers Ltd, is a long-standing family business and was run for more than 20 years by local businessman Jonathan Heasman.
The GS Verde Group advised new owner Steve Williams, an entrepreneur who has extensive experience in buy and build growth strategies, having recently sold his logistics business that he grew from start-up through acquisitions.
The acquisition of Mowers Online is the first in Williams’ new buy and build strategy under which he plans to build a group of businesses.
Williams said: “The business has been brilliantly run by Jonathan and his team over the years, and we are looking forward to building on its success.”
The deal was advised on by corporate finance-led dealmaking business The GS Verde Group, with funding provided by HSBC UK. The vendor was advised by accountants Francis & Co.
Williams added: “We are excited for the future and with the support of our advisers, are actively looking for further acquisition opportunities to build this new group of businesses.”