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News Release from: Nelsons Solicitors | Subject: Buy-back of P and R Building Supplies
Edited by the Buildingtalk Editorial
Team on 09 August 2005
Nelsons helps with company buy-back
Leicester law firm, Nelsons, has completed the buy-back of shares of P and R Building Supplies for one of its original founders.
Leicester law firm, Nelsons has completed the buy-back of shares of Loughborough and Coalville builders' merchants, P and R Building Supplies Limited, for one of its original founders, Patricia Johnson and her son, Paul Johnson The buy-back follows the death of the company's second founder, Robert Saunders
This article was originally published on Buildingtalk on 22 Jul 2003 at 8.00am (UK)
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Established by Ms Johnson and her partner, Mr Saunders in 1982, P and R Building Supplies is now one of the leading independent builders' merchants in the county.
The family-owned business first opened to trade customers at its current site at Hermitage Industrial Estate, Whitwick Road in Coalville.
It opened a second branch at Chainbridge Close in Loughborough in 1991, and serves trade and consumer building and DIY markets.
Commenting on the deal, director of P and R Building Supplies, Paul Johnson says: "The share buy-back will enable the family to retain full control and maintain a hands-on role in the running and development of the business, now and in the future.
"We've earned an excellent reputation locally for our flexible and personal service to customers, and are proud of what has been achieved to date.
We've seen significant growth in the last five years and have invested with recent improvements to the yard, loading bays and new trade counter at our Loughborough site.
We also plan to expand and relocate our Coalville branch within the local area to provide better access and facilities for our customers and both branches will see an expansion as we intend to add garden landscaping materials to the product range." Nelsons' team was led by partner Pip Dawkins, who comments: "It has been a delight working with Pat and Paul and completing the share restructuring.
We have been so impressed with their enthusiasm, drive and commitment to the development of the business, which has motivated us all to complete the buy back in such a short time frame.
We wish them every success for the future!" Ms Dawkins and Sabrina Davis at Nelsons advised on the buy-back of shares with Chartered Accountant Jason Whowell of Quorn practice, Robert Whowell and Partners.
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