Dyson Group sells The Builders Centre
DYSON Group has sold its builders merchant subsidiary The Builders Centre to building and timber supplies business Frank Key Group.
The sale, by Sheffield-based Dyson, was advised by DLA Piper.
Dyson, which completed a restructuring of its business last year, is focused on production of high performance technical ceramics for steel, powder metallurgy, foundry and high purity melting applications.
Frank Key Group is a privately owned, independent, building and timber supplier with five branches in Nottinghamshire and Derbyshire as well as a landscaping arm and plant hire business as well as supplying kitchens and bathrooms to the trade and public.
Both The Builders Centre and Frank Key are members of the National Buying Group and had a strong relationship prior to the acquisition.
The DLA Piper team was led by associate Anna Lewis who was supported by partner Catherine Simister and solicitor Richard Blackburn, all from the firm’s Sheffield Corporate team.
Corporate finance advice was provided to Dyson by PKF in Sheffield and Frank Key was advised by Nottingham law firm Fraser Brown.
Anna Lewis, associate at DLA Piper, commented: “We are delighted that DLA Piper has been able to work with PKF and Dyson on another successful transaction for the group following the sale of Saffil and high profile restructuring in the past few years. This move will enable Dyson to focus on its core Dyson Technical Ceramics businesses and its property interests.”
Patrick Abel, corporate finance partner at PKF, said: “It has been a real pleasure working with Dyson’s senior management team to successfully identify and conclude the sale of the business to Frank Key Group. The Builders Centre is a very strong local player with a strong management team, I am confident it will go from strength to strength under its new ownership.”
Frank Key, headquartered in Nottingham, was founded in Mansfield in 1907 and now has 90 staff. During the war the growing business nearly closed down as all its employees were conscripted to serve in the armed forces, except for founder Frank Key.
