We are delighted to have advised Miers Construction Products Limited (MCP) on their sale to SIG Plc.
MCP was founded in 2010 to address the market need of a technically focused and highly experienced independent supplier of construction products. Opening from a single site in St Neots, the business has grown significantly through a strategy of organic growth and strategic acquisitions. Now operating nationally from seven branches and a market leader in the construction accessories market, the shareholders were starting to receive interest from third parties and having known our team for a number of years requested support to explore strategic options for the business.
Our corporate finance team worked closely with the shareholders to understand their ambitions for a transaction. The team ran a focused process with those parties who had approached and a handful of additional strategic acquirers. Key focus for the shareholders was ensuring an acquirer understood what made MCP unique and this culture was maintained.
Our relationships in the sector facilitated focused conversations with key decision makers where we presented the MCP business and opportunities for acquirers. After entering exclusivity with SIG Plc, we managed the process through diligence and key negotiations protecting and maximising value to deliver a great result for the shareholders with a truly strategic acquirer.
I am delighted with the dedicated support received from Doug Bentley, Ryan Shields and Sol Ben Sufia over the course of the deal. Their advice and guidance helped us navigate a number of key areas throughout the transaction and delivered a result which we as Shareholders are delighted with. We now look forward with working with SIG on the next phase of growth for the business.Tim Nicholson Managing Director, MCP