Jewellery Quarter gem acquired by German group in deal advised out of Birmingham
One of the oldest names in Birmingham’s Jewellery Quarter has been acquired by a German group in a cross-border deal part advised out of the city.
WB The Creative Jewellery Group has been bought by Heimerle + Meule Group, which is owned by Possehl Group.
WB The Creative Jewellery Group, better known as Weston Beamor, has been at the forefront of the jewellery market for more than 70 years. Operating under the Domino, Gecko and Weston Beamor brands, the group designs and manufactures precious and fine jewellery for independent jewellers throughout the UK.
Under the stewardship of Vivian and Patrick Fuller, the group has built a strong reputation in its industry and is recognised as one of the pre-eminent firms in its field.
The deal will see Weston Beamor join Heimerle + Meule’s precious metals division, which comprises more than 160 companies operating in 30 different countries. They include Cookson Precious Metals, which is also based in the Birmingham.
Commenting on the sale, Patrick Fuller said: “My wife, Vivian, whose father founded the group in 1947, and I have enjoyed building the group over the last 40 years to become a major player in the UK jewellery industry but it is now time for us to retire and hand over its further development to the very capable team who are already in place.”
The business post-sale will continue to be led by managing director, Andrew Morton.
Springboard Corporate Finance advised WB The Creative Jewellery Group on the sale, with the transaction being led by David Neate and Jonathan Wright.
Mr Neate said: “We are delighted to have been able to support Vivian and Patrick on the successful sale of their family business. The challenge was to identify the right international strategic partner to deliver value but also to identify an acquirer who shared the shareholders vision for the business. Possehl Group met these criteria. Possehl’s long term approach and understanding of the global jewellery market made them standout as the right partner.”
Legal advice for the company and the shareholders was provided by Higgs & Sons, with a team led by head of corporate, Nick Taylor.
Mr Taylor said: “Everyone has worked extremely hard to deliver this complex project against a tight time-frame, and we were delighted to get it over the line for the shareholders.”
Heimerle + Meule was advised by Mills & Reeve’s Peter McLintock.