INDUSTRY
Established in 1992, Compressed Air Centre Ltd (CAC) was a leading UK distributor of high quality compressed air products, supported by a large and diverse client base.
Avondale was brought on board by CAC’s owners to manage the sale of the business. An active acquirer in Avondale’s network around this time was Ben Richardson. Having previously purchased another business through Avondale, he and his business partner, Serge Santos had alerted the team that they were on the lookout for quality acquisition opportunities in south east England.
Recognising the clear synergies of a potential deal, Avondale arranged a face-to-face meeting between the two entrepreneurs and CAC’s owners. Enticed by the opportunity, the pair submitted a joint bid for the company on a 50:50 shared ownership basis. Widespread interest in CAC from several trade buyers made for a highly competitive sale environment. However, their passion for growing the business won through, and their offer was accepted.
With a headline sum agreed, detailed negotiations ensued. Avondale remained central to the process, working closely with the legal, financial and IT teams to guide the project to a swift and satisfactory conclusion. The vendors are reassured to see CAC in good hands under the new owners, while its staff, who have been retained, can look forward to many prosperous and exciting years ahead.
“Great acquisition opportunities are a very rare breed. Serge and I have Avondale – and an amazing supporting cast – to thank you for leading us to CAC and for guiding us through the complexities of the acquisition process. We now have the perfect platform from which to build for the future, and we could not be more excited.”
Ben Richardson, Co-acquirer, The Compressed Air Centre
