Independent, family-run business Ward completed a deal with L. Clancey & Sons for its 3.9-acre scrap metal site in York and the business as a going concern.
The acquisition of the business will further enhance the nationwide capabilities of Ward, offering greater coverage in the North of England, while enabling the succession planning of Clancey’s as two of its partners take retirement.
Clancey’s has a well-established reputation, developed over its 160 history. This successful operating model will be maintained, as will the business name. One of the sellers, Richard Clancey, is a member of the founding family and will stay on at the business as Site Operations Manager, employed by Ward. All other staff are also being retained.
Thomas Ward, Commercial Director at Ward, said: “This is a really exciting time for both our family businesses. Clancey’s have a solid reputation in metal recycling, they share our values, outlook and approach to customers. We hope they will become an extension of the Ward team operationally, while retaining its own identity. This new site gives us even more geographical reach for both businesses with good transport links to our Midlands, Immingham and Redcar sites.”
Richard Clancey, Partner at L. Clancey & Sons, said: “Both our businesses are strongly family orientated and we have very similar values, from the way we look after our teams to the way we support our customers. This will be a really positive step for us all. Both myself and my daughter are looking forward to working with Ward and seeing what we can achieve together.”
Ward was provided with financial due diligence by PKF Smith Cooper (led by David Nelson) and legal advice from Square One Law (led by Charlie Fielding). Azets (led by Stephen Garbett) and Harrowells (led by Matthew Rowley) acted on behalf of L. Clancey & Sons.
David Nelson, Senior Partner at PKF Smith Cooper, assisted Ward by providing financial due diligence on the target with the support of colleague Deniss Sipcovics. He commented: “I am thrilled to have been involved in this acquisition, which supports the continued growth of a thriving Midlands company. I wish both Ward and the team at L. Clancey & Sons every future success.”