Completed sale
How Richardson Event Hire Hospitality & Events Was Sold to Blast Event Hire | Deal Summary
Richardson Event Hire has been sold, “thanks to Sara and the Knightsbridge team”… Initially incorporated in 1981, Bristol-based Richardson supplies premium quality tableware, equipment and furniture. As a family-owned business, it aims to offer a very personal service. With owners Isla and Stephen Drage looking to retire, Senior Sales Negotiator Sara Manville stepped in to find a suitable buyer, explaining the key selling points: “Richardson has strong relationships with long-standing clients, as well as a turnover of £351K and EBITDA of £97K”. Sara facilitated the sale to 2012-established Blast Event Hire within a few months of Richardson going live on the market. Also Bristol-based and family-owned, Blast has gone from strength to strength by offering the highest quality equipment. The acquisition serves as a bolt-on to its established business. In a glowing review, Isla expressed her delight with the service received by Knightsbridge: “We would like to thank Sara Manville for all her help and support in finding a buyer for our business. “The marketing material produced by Knightsbridge was excellent and we were pleased that Sara worked with us to identify suitable targets for direct mailings. “Sara was attentive and encouraging and always had our best interests at heart. She liaised with our solicitor right up until the day of completion, she kept things moving and also kept everyone in the loop. “Many thanks Sara for achieving such a great result”. Happy with the deal and the good relationship formed with the Hignell family that created Blast, we wish the best of retirement to the Drages – and a prosperous future for Blast.