Azets, the UK’s largest regional accountancy firm and business advisor to SMEs, has advised the shareholders of J.A.K Marketing Ltd on its sale to Woodley Equipment Company Ltd for an undisclosed sum.
Founded in 1995, and based in Sheriff Hutton, York, the company supply an extensive range of products which includes everything a veterinary practice would require, from instruments and day-to-day consumables through to sophisticated equipment. The company has a turnover of around £8.5m.
The acquisition will allow the shareholders of J.A.K to retire and is expected to provide growth for both companies by offering J.A.K’s products via Woodley Equipment’s additional routes to market both in the UK and overseas.
Woodley Equipment has three premises in the North West in addition to sales and distribution facilities in New York, USA. The company supplies Veterinary Laboratory Diagnostic, human laboratory diagnostic and medical equipment to both the Veterinary and human medical markets.
In the Veterinary market the Company supplies an extensive range of Laboratory Diagnostic products and has an ongoing programme to design and develop new systems with its manufacturing partners.
In the medical market Woodley Trial Solutions provides complete equipment solutions in support of the Pharmaceutical Clinical Trial industry.
Kevin Ingram, Chairman and Owner of J.A.K Marketing Ltd said: “Having built J.A.K over the past 27 years, we’re pleased to be able to hand over ownership to a reputable and growing firm which already has vast knowledge of the veterinary supply sector. We look forward to watching the continued growth of J.A.K.”
“We have received terrific support from the teams at Azets, who helped us navigate and negotiate the sale. We appreciate the dedication of the team in managing a smooth process throughout and delivering a successful transaction.”
Mike Wickham, owner and director, Woodley Equipment said: “We’re delighted that we have been able to purchase J.A.K, an established and highly reputable company. The deal merges two strong Veterinary supply Companies which supply different product ranges; we share common values and a strong desire to supply the best product solutions to enable Veterinarians to provide the best care to their patients.”
“We believe J.A.K will benefit from Woodley Equipment’s routes to market and likewise. We expect both companies to experience sustained growth over the coming years.”
Azets provided lead advisory services led by Nick Barker, Corporate Finance Director, with support from the tax team (Bethan Hughes, Steven Holmes, Richard Whitelock and Naveen Sahney) and the client long-standing accounts and business advisor, Director Chris Ward.
Nick Barker, Corporate Finance Director at Azets said: “This is a fantastic deal for everyone involved and it’s always rewarding to see a strong family business secure its legacy having sold to an ambitious buyer like Woodley Equipment Company who are in a fantastic position to take it from strength to strength. This deal demonstrates the vibrant business environment in the North.”
Andrew Jackson Solicitors, led by Partner Matthew Smith,advised the sellers, who said: “It was a pleasure to assist the shareholders of J.A.K. Marketing with the sale. We have had a lengthy association with the business and it is great to see it in good hands on the next stage of its journey”
The shareholders of Woodley Equipment were advised on the purchase by MHA Moore and Smalley, led by Corporate Finance Associate Director Robert Holgate and Ralli Solicitors.