A serial entrepreneur from Cheltenham has bought a garden machinery e-commerce business in a major deal.
Steve Williams acquired Mowers-Online.co.uk from family-owned Gloucestershire business Cheltenham Mowers for a seven-figure sum. He was advised on the deal by GS Verde Group.
The Mowers Online platform, which sells lawn mowers, garden tools and other petrol, electric and manual garden machinery, was run for more than 20 years by local businessman Jonathan Heasman.
“I am delighted the opportunity to acquire a reputable business such as Mowers Online has presented itself," said Mr Williams, who recently sold a logistics business that he grew from a start-up through acquisitions.
"The business has been brilliantly run by Jonathan and his team over the years, and we are looking forward to building on its success."
Mowers Online is the first in Mr William's new "buy-and-build strategy", GS Verde said. According to the firm, Mr Williams is now planning to build a group of businesses with the capacity to provide a "comprehensive" online, wholesale and retail offering.
Mr Williams added: “I would like to thank the GS Verde Group, HSBC and those who helped to get this deal completed. We are excited for the future and with the support of our advisers, are actively looking for further acquisition opportunities to build this new group of businesses."
Funding was provided by HSBC UK and the vendor was advised by accountants Francis & Co.
The GS Verde Group is dealmaking firm, which combines legal, finance, tax and communications advice to support businesses.
Like this story? Why not sign up to get the latest South West business news straight to your inbox.
