A LONG-established specialist forklift truck provider based in Northampton has a new owner following a deal orchestrated by a corporate finance company.
Watersheds Corporate Finance, based in South Bridge Road, Northampton, has announced the purchase of Stantone Mechanical Handling, located in the town’s Rothersthorpe Avenue, by Nigel Martin.
A LONG-established specialist forklift truck provider based in Northampton has a new owner following a deal orchestrated by a corporate finance company.
Watersheds Corporate Finance, based in South Bridge Road, Northampton, has announced the purchase of Stantone Mechanical Handling, located in the town’s Rothersthorpe Avenue, by Nigel Martin.
Stantone Mechanical Handling is one of the biggest forklift truck companies in Northamptonshire and has built a reputation for solving customers’ material handling needs since it was founded more than 50 years ago. It is the area distributor for Jungheinrich and Clark forklift trucks.
Nigel has 20 years’ experience in the material handling sector with Samuk Ltd and Jungheinrich UK Ltd, both in sales and general management roles.
Having worked with Stantone Mechanical for many years and given the impending retirement of the owner, Robert Hall, Nigel was delighted to pursue the opportunity.
He approached Watersheds, along with business advisor Peter Gubb, to assist with the purchase of the business.
He said: “When Robert mentioned to me that he was looking to retire I was immediately interested in buying him out. We approached Watersheds to advise on the process and they assisted in the negotiations and arranged the finance I needed to complete the purchase.
“Throughout the process I found David a great support. David introduced the funders to me and recommended DFA Law to complete legal due diligence and completion.
“Peter Gubb, as business advisor, nursed me through the whole process and completed the financial terms with due diligence. I was very pleased with the support of all my advisors both during the deal and post completion.”
David Fletcher, Watersheds Partner, said: “Stantone is a long standing and well run organisation with a strong customer service ethos. It is very satisfying to assist an individual to make the leap from working for organisations to fulfilling his dream of owning and running his own company.
“Nigel and his wife will build on the existing success of the business and plan to grow the organisation across the region. Robert Hall is staying with the business for a year and I wish them all every success in this new phase for Stantone.”
Contact Stanton Mechanical on 01604 761001, email or visit the website www.stantonemechanical.com