We've advised a team led by Managing Director Richard Wakeman on the management buyout of Seren Electrical Supplies.
Founded in 2010, Seren Electrical Supplies is an independent Caerphilly-based wholesaler supplying high-quality equipment to trade. Following a sustained period of growth, the management team has acquired a majority share in the business from the company’s founders, Andrew Hall and Jason Beament.
Seren has experienced steady growth with a real positive and continued service focus,” said Managing Director Richard Wakeman. “Our partnership has worked over the last few years due to offering a personable premium service – regardless of how big the company grows. I’m looking forward to taking Seren forward while maintaining that customer-centric ethos”.
Funding for the deal came from the Wales Business Fund, part-funded by the European Regional Development Fund through the Welsh Government.
Founding shareholder, Jason Beament said:
“We are pleased to have completed this transaction and continue our partnership with Richard, who has developed the business strategically and structurally to the current position. Andrew and I will continue to assist Richard in the growth of Seren Electrical Supplies.”
Richard Wakeman said:
“This was a highly focused and extremely smooth MBO. Laura was a pleasure to work with and her advice and efficiency was highly valuable throughout the entire process”.
Laura Herdman, from Capital Law, said:
“Seren were introduced to us by Mervyn Ham of Iridium Corporate Services. Richard leads a fantastic team who we really enjoyed working with. We wish them all the best for the next stage of their journey”.