InsightsInsight - Corporate, Banking and Finance - POSTED: March 22 2021
Brachers advises shareholders on sale of Traymate Products to Hartford Holdings
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Brachers has advised the shareholders of shower tray manufacturer Traymate Products on its sale to Hartford Holdings Ltd t/a Trojan Baths.
Essex-based Traymate Products was established over 20 years ago and is a manufacturer of contemporary shower trays and distributor of showering enclosures. With a focus on design and innovation, the company uses only 100% natural stone resin in the production of its shower trays, which are hand-made and contain no plastics.
Hartford Holdings Ltd t/a Trojan Baths was established in 1975 and is one of the largest manufacturers of acrylic baths in Europe, with a focus on high quality products. The company has a strong commitment to innovation and has ambitious plans to grow Traymate and develop its product offer. This deal is the latest in a series of recent acquisitions by Hartford Holdings as it looks to expand its presence in the bathroom industry.
The deal was supported by a multi-discipline team at Brachers, led by Corporate Partner Claire Williams. Claire was assisted by Partner Matt Simmonds and solicitors Raul Hernandez and Kieron Cummins, also from the Corporate team, as well as Employment Associate Abigail Brightwell and Commercial Property Partner Emma Andersen.
The Brachers team worked in conjunction with David Ellis from Azets, who provided corporate finance support to the shareholders of Traymate Products. This collaborative approach meant Claire and the team were able to successfully advise on the multifaceted legal and commercial issues that needed addressing prior to completion of the sale.
Claire said: “I am delighted for the team at Traymate. Steve has worked hard to grow the business for over 20 years and I’m pleased we have been able to secure a successful deal for him.
“The ethos of both Traymate and Hartford Holding complement each other well and I am sure the business will continue to flourish as part of Hartford Holdings ambitious development plans.”
Steve Rance, founder of Traymate, said: “I am so grateful to the team at Brachers for helping me complete the sale of my business. Claire and her colleagues were professional and proactive from the beginning of the process to the end and were quick to find effective solutions to ensure the deal progressed successfully at every stage. Together with Azets, they are the best team I have ever worked with.”
Steve will continue to act as consultant over the coming months, to help with the business transition.
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