The Corporate Finance team at CLB Coopers has supported TF Solutions in an investment deal which sees it become part of the BSS Contract Merchanting Division of the Northampton-headquartered Travis Perkins Group.
The acquisition of TF Solutions brings a hugely successful air conditioning and refrigeration business to the portfolio of BSS, which already covers a range of sectors supporting contractors with specialist pipeline, heating and mechanical services equipment.
Andrew Cherrill has been confirmed as the new Managing Director at TF Solutions, and said, “This is truly exciting times for TF, joining the largest specialist supplier of mechanical services in the UK and having the backing and support of the BSS umbrella means that not only can we continue with our first class service ethos, we can now implement our growth strategy in the AC marketplace, increasing our presence and our support to customers.
We fully intend to continue operating as we have always done giving our customers a service level which is second to none in the industry; the acquisition deal will allow us to grow as a company and expand that service, and we very much look forward to working with BSS to achieve this.”
Frank Elkins, Divisional CEO of Contract Merchanting at BSS comments “TF Solutions has an extremely strong identity within the air conditioning and refrigeration market which perfectly complements those which in which BSS already operates. In terms of product, the TF Solutions range will enhance BSS’s product offering and support us to offer a one stop shop for our HVAC customers.
Product; expertise; culture; each is fundamental to a successful acquisition, and TF Solutions delivers on all three. We recognise and admire TF’s reputation for ‘working together for success’ where customers see the very best levels of service, and we at BSS want TF to pass learnings on across our wider business.”
TF Solutions, established in 2001 and a winner of the 2017 ACR News Distributor of the Year, currently employs 48 people at its three branches in Stockport, Burton-upon-Trent and Dunstable and trades across the whole of the UK.
David Travis and Peter Williams led the transaction and said, “We have worked closely with the Company for several years positioning it for sale and the transaction is a reflection of the team’s significant success in growing the business over the years and now provides Travis Perkins with an excellent strategic opportunity”.
TF Solutions was advised by Paul Raftery, Anna Kerrane, Haydn Rogan, Claire Hollins and Laura Farndon from Weightmans’ Manchester team.
Paul Raftery, Partner at Weightmans, said of the deal: “TF Solutions is a long standing client of Weightmans and the team provided a range of legal advice for the owners on the business’s disposal to Travis Perkins. There are exciting times ahead for the TF Solutions team as they look to grow their business as part of the Travis Perkins group in what is an excellent fit for both parties.”View all news