Heating Plumbing Supplies Group Ltd sale completes
“We very much enjoyed working with the Shareholders of HPS throughout this transaction. We have acted for HPS since its formation in October 2001, including acting on a management buyout in 2011. As they are long-standing clients of EMW, it was fantastic to see how the business has developed since it started. They have built this business up from scratch to become the success that it is today, and we wish them the very best working with the buyers moving forward.”
We are very pleased to have advised shareholders of independent plumber’s merchant, Heating Plumbing Supplies Group (HPS) on its sale to Plumbing and Heating Investments Ltd.
HPS sells wholesale plumbing and heating equipment in the UK and is the leading plumber’s merchant in the South of England. The company, which has a network of over 30 branches, turned over in excess of £53million in 2015.
The buyer is a subsidiary of Marlowe Holdings Limited, already represented in the plumbers’ merchants sector by East Midlands based G.B Willbond Limited. HPS will continue to operate under the same name and the business will continue to be led by the existing management team.
Tony Curneen, Finance Director at HPS says, “EMW have acted as our lawyers since inception dealing with all of our legal requirements. Everything required on the sale was delivered to EMW’s usual very high standards.”