Million pound supplier bought back by founding family

Published:  07 September, 2018

The family who founded a steel tube supplier have bought it back after 55 years.

Boole's Tools and Pipe Fittings Ltd was founded in 1960 by Ron Boole and his father Cyril.

It supplies tubes, valves, fittings and allied pipeline products.

In 2003, the business was acquired by Grafton Group, and it now has a reported turnover of more than £12.5 million.

Managing Director Terry Seville and his wife Tracy, who is Ron Boole’s daughter, have now taken the business back over.

Seville said: “Now is the right time for the management buyout, and being independent will allow us both to maintain our strong trading relationship with Grafton, and to generate new opportunities with other national and independent merchants."

Ian Riggs at Hill Dickinson, Jeremy Cole at Cole Associates Corporate Finance and Dave Matkin on debt advisory helped Seville with the deal.

Corporate Relationship Director John Gibson at HSBC Corporate out of Liverpool provided funding, and Martin O'Shea and Katy Barry at Addleshaw Goddard advised HSBC.

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