120-year-old Stroud business sold
By Matt Hall | 8th September 2021
Merthyr-based Rabart Decorators Merchants has purchased Bailey Paints, located at Griffin Mill Estate in Stroud, for an undisclosed amount.
Bailey Paints has been established for more than 120 years in Stroud, with owner Richard Townsend running the business since 1989.
Rabart Decorators Merchants is a family-run business with ten trade and commercial sales centres across South Wales and the South West. It said the acquisition of Bailey Paints is the latest addition to the growing business following the opening of their Warminster branch in November 2020.
Alan Bush, co-owner 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".
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."
Mr Townsend will continue to work alongside the new owners as the group's production manager.
Advised by international law and professional services firm Ince, the sale was led by Theresa Grech, partner and head of Corporate (Cardiff) with Simon Morgan, commercial property partner (Cardiff), and David Baynton, partner and head of Employment (Bristol).
Theresa Grech, partner and 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."
Accountancy and Tax advice was provided by Azets. WSP Solicitors acted for S.G.Bailey (Paints) Limited.
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