ENTREPRENEUR Simon Howie has sold his third company in two months in a deal likely to be in millions of pounds.
Thrislington Cubicles, a designer and manufacturer of toilet cubicles, access panels and vanity units across the commercial, leisure, health, and education sectors, has been acquired by Hollywood-based Bobrick Washroom Equipment
Mr Howie, best-known for his eponymous butcher business, said Bobrick was “quick to acknowledge the depth of talent and the quality of the IP (intellectual property) in the business and, as such, a deal was struck very quickly”.
He added: “Thrislington has been trading extremely well and the new owners embraced the global reach of its products. This is a strategic purchase for [Bobrick] and I am delighted that they have committed to keeping Thrislington’s base in the UK and to growing and developing the business.”
The value of the sale was not disclosed, but it is believed that the deal represented a very high multiple of earnings. Thrislington profits have been in the region of £2m for each of the last three years.
In December Mr Howie sold two firms under his Strata Group – Mermaid Panels and Shore Laminates – to Wilsonart Engineered Surfaces, a global manufacturer and distributor of engineered surfaces headquartered in Austin, Texas in an all-cash deal of £30m.
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