A steel tube supplier has been acquired by the family that set it up 55 years ago, 15 years after builders and plumbers merchant group Grafton Group acquired it.
The family which founded Boole’s Tools and Pipe Fittings have bought it back from a listed builders’ merchantin a management buyout, advised by Cole Associates Corporate Finance and helped by debt facilities from HSBC Corporate Banking.
Boole’s Tools and Pipe Fittings was founded in 1961 by Ron Boole and his father Cyril. It supplies tubes, valves, ﬁttings and allied pipeline products. It has now been taken over by managing director Terry Seville and his wife Tracy, Boole’s daughter.
Seville believes that the Boole’s business has every reason to feel confident about the future. He said: “Now is the right time for the MBO, and being independent will allow us both to maintain our strong trading relationship with Grafton and generate new opportunities with other national and independent merchants.”