An accounting team has been praised for its part in the sale of a Lincs door and loading bay supplier to a Leicestershire-headquartered counterpart.
East Midlands accountant and business adviser Duncan & Toplis supported the sale of Welbourn-based Fen-Bay Group to Hörmann UK, which is based in Coalville, at the end of 2021.
Hörmann UK is part of Europe’s biggest provider of gates, doors, frames and operators.
The sale was supported by Duncan & Toplis, which has offices in Boston, Grantham, Lincoln, Loughborough, Louth, Melton Mowbray, Newark, Skegness, Sleaford, Spalding and Stamford.
The Fen-Bay group employs 150 people, including more than 100 full-time engineers providing around-the-clock nationwide support. It also owns Transdek UK, which supplies loading bay products including double deck lifts, vehicle-to-ground lifts, scissor lifts and dock levellers.
Established in 1979, Hörmann UK is part of the German Hörmann Group, a family-owned business founded in 1935.
Hörmann employs more than 6,000 people in 38 factories in Europe, North America and Asia, producing and delivering more than 20 million doors.
Hörmann UK managing director Wolfgang Gorner said: “We are delighted to welcome the Fen-Bay Group to the Hörmann family.
“We see this as a natural fit and a key part of our drive to increase our footprint in the industrial and service sectors.
“The Fen-Bay Group with its excellent brand, reputation and nationwide coverage will complement our existing operations, but will allow us to compete even more so in these areas.
“We are also excited to build on the success already achieved by Transdek throughout Europe and we are committed to ongoing investment in the Fen-Bay Group operations. We see great potential moving forward.”
The owners of Fen-Bay Group brought in Duncan & Toplis, which has served the company with a range of business services over many years, to explore the potential sale of the company.
The chartered accountants and business advisers helped negotiate finer details with the buyer and helped manage the sale process along with tax advice and financial planning support.
Duncan & Toplis director Damon Brain, who served as Fen-Bay’s dedicated adviser through the transaction, said: “It has been an absolute pleasure to work with Fen-Bay and Hörmann on this sale.
“Fen-Bay is a renowned and respected company based in our region and we’re pleased to have played a role in helping to secure its future with a committed investor that can support its continued growth and success.”
Carl Sedlan, managing director of the Fen-Bay Group said: “We already have extensive experience of Hörmann and its strong family values, which resonated strongly with our management team.
“Everyone is genuinely excited by the opportunities moving forward and becoming part of such a well-known and respected group.
“I’d like to thank Duncan & Toplis for its support over the last few months – we couldn’t have done it without the team’s input and hard work.”
