Burges Salmon has advised the shareholders of C.P. Hart & Sons on the sale of a majority stake in the business to the Wolseley Group.
The sale to Wolseley Group was initiated to facilitate the partial exit of C.P. Hart’s shareholders and to support C.P. Hart’s next phase of growth. The shareholders and senior management team will remain invested in the company.
Founded in 1937, C.P. Hart has become the UK’s leading premium bathroom supplier. The company supplies many of the world’s top premium bathroom brands in addition to a full range of exclusive and own branded products.
C.P. Hart has grown significantly in recent years and this investment by Wolseley allows the firm to further its ambitious expansion plans. The move will help with Wolseley’s drive for strategic growth drive and will see the business expand into the premium bathroom retail space.
The Burges Salmon team working on the deal was led by partner Danny Lee, alongside associate Niall Mackle, both from the firm’s Edinburgh-based Corporate team.
C.P. Hart’s Chairman, Richard Reynolds, comments: “We are grateful to Danny, Niall and the rest of the team at Burges Salmon for their role in leading us seamlessly through this transaction from start to finish. Their commercial and pragmatic advice made for an overwhelmingly positive experience and helped us to secure a successful outcome.”
Danny Lee adds: “C.P. Hart continues to go from strength to strength and we are pleased to have assisted its shareholders on this significant investment by Wolseley, which will allow the company to further its ambitious growth plans.”