International law and professional services firm Ince recently advised Merthyr-based Rabart Decorators Merchants Limited (‘Rabart Decorating Centres’) on the purchase of S.G. Bailey (Paints) Limited (‘Bailey Paints’), located at Griffin Mill Estate in Stroud, for an undisclosed amount.
The Ince team was led by Theresa Grech, Partner & Head of Corporate (Cardiff) with Simon Morgan, Commercial Property Partner (Cardiff), and David Baynton, Partner & Head of Employment (Bristol). Accountancy and Tax advice was provided by Azets. WSP Solicitors acted for S.G.Bailey (Paints) Limited.
Rabart Decorators Merchants is a family-run business with ten trade and commercial sales centres across South Wales and the South West. The acquisition of Bailey Paints is the latest addition to the growing business following the opening of their Warminster branch in November 2020.
Bailey Paints has been established for more than 120 years in Stroud, with owner Richard Townsend running the business since 1989. Richard will continue to work alongside the new owners as the group’s Production Manager.
Commenting on the announcement, Alan and Stuart Bush, owners of Rabart Decorators Merchants, said,
“We are always looking to expand and grow the business. When the opportunity arose to purchase Bailey Paints, we were very excited to go for it due to its prime location, the team’s expertise in industrial paints, and their ability to manufacture paint on-site.
“We are really looking forward to working alongside Richard Townsend and the highly-skilled work force at Bailey Paints, and we are confident that the group as a whole will benefit from the team’s specialist skills and knowledge”.
Robert Bush, Sales Director, Matthew Bush, Financial Director and Andrew Bush, Director of Commercial Services at Rabart Decorators Merchants, added,
“Our priority is to maintain the high level of customer service to decorators, contractors and retail customers in the Stroud area that Bailey Paints have serviced for many years. We are also excited to expand our product lines and introduce industrial coatings as well as work closely with Richard and our chemist to develop products of our own.
“We would like to thank Theresa and the rest of the team at Ince, who were an excellent support and guided us through the transaction. Their practical advice was invaluable and stands us in a good position to go forward. Thanks also to Katherine Broadhurst of Azets who delivered a full range of corporate finance and tax advisory services as part of this acquisition, from its initial stages to completion.”
Richard Townsend, former owner of Bailey Paints, added:
“I am delighted to sell the business to fellow decorator merchants who truly value the skills and expertise we have built-up over the years. The team are excited to become part of The Rabart Group and we are looking forward to growing and developing our already successful business. We are confident that all of our customers will benefit from the transaction and we are excited to see what the future holds.”
Commenting on the deal, Theresa Grech, Partner & Head of Corporate at Ince, said,
“Rabart Decorators Merchants Limited are long-standing clients at Ince and it was a pleasure to work with Alan, Stuart and the family on their latest acquisition. During the pandemic, they have managed to open a new location and complete a complex transaction – which is no mean feat! I wish them the very best of luck for the future and with their exciting plans for the business.”
The acquisition deal has been shortlisted for Insider Media’s Small Business Deal of the Year award in the Wales Dealmaker of the Year awards, which was hosted on Thursday 9 September. The Wales Dealmakers Awards recognise the year’s more relevant acquisitions, buyouts, and funding deals in the region, and the people and businesses that make them happen.