Sale of Kingcombe Aquacare Limited to a trade buyer

Wilsons have advised John and Theresa Colton on the sale of Kingcombe Aquacare Limited, a niche water civil engineering business, to Stonbury Limited, a £24 million revenue specialist contractor to the water industry, for an undisclosed sum.

The transaction was led by Corporate Commercial Partner Philip Stephenson, assisted by Clare Charles and drew on property, employment and tax specialists across the firm.

Kingcombe's MD, John Colton, said "We were introduced to Wilsons once outline terms had been agreed with the buyer. The decision to sell Kingcombe after 30 years of growing the business was not an easy one to make but the calm, professional and resolute manner with which the Wilsons team dealt with the many issues that arose during the process was impressive. We are so glad that we accepted the recommendation to appoint Wilsons."

Philip Stephenson said "It was a pleasure to work with John and Theresa as well as their existing advisory team and hope they enjoy their well-earned retirement. A number of complex issues arose during the transaction which required some creative problem solving, particularly that a significant part of the price was linked to the successful re-tender to an important existing customer. Despite this and thanks to everyone's hard work, completion took place within a day of the original target date."