Sand Aire Private Equity has sold its 40% stake in ready mixed concrete and aggregates business Bradwell Aggregates for an undisclosed amount. Sand Aire backed the management buy-in of the company in 1998. The return on the investment has not been disclosed, but Sand Aire reports a satisfactory return on the investment.
Based in Wickford, Essex, Bradwell Aggregates Limited was formed to acquire the trade and assets of Bradwell Aggregates (sand and gravel) and Karrimix (ready-mixed concrete) from a third generation family company, Carter & Ward Limited.
Sand Aire investment executive, Jonathan Slow, said: “This successful sale demonstrates the value of experienced specialist management and private equity funding to long established family-owned businesses. This combination is at the heart of Sand Aire’s unique EquityHarvest approach.”
EquityHarvest is Sand Aire’s solution to capital succession issues in the family business. The firm invests between £2 million and £10 million of equity funding per deal, often working closely with family vendors. The commitments made enable family vendors to manage succession and diversify their wealth, often without selling a controlling stake.