Sheffield van conversion company sells to management
Husband and wife team, Katrina and Scott Muldoon, who created Convert Your Van Ltd, a successful business providing custom camper van conversions, as well as manufacturing and selling flat packed DIY camper van fit out furniture and products, have sold the business to manager, Daniel Staniland.
Daniel, who has been employed by Convert Your Van was given the chance to take over the business, as Scott and Katrina were reluctant to expand further having created it more as a lifestyle business.
Once plans to exit the business were announced, Daniel quickly assembled a buyout team consisting of Lisa Pogson, Mark Staniland and Julie Robinson and, with advice from Neil Large of Lupton Fawcett, concluded the deal in three weeks.
The newly acquired business has relocated to new premises in Dinnington, with assistance from Andrew Nettleton at the Rotherham Investment and Development Office (RiDO).
As well as retaining the three existing employees further jobs are also being created, with the immediate need for an extra member of staff.
It has also received a cash injection to provide a funding line for further strategic growth and development.
Convert Your Van is now poised for expansion and diversification into new markets in the UK, while also targeting overseas markets, in particular, Europe, where demand is high.
Speaking about the acquisition, Daniel Staniland said,
“Having worked in the business for the last couple of years, I could see the huge potential for Scott and Katrina’s business. What set out as a hobby was quickly turning into a full time business for them, so they asked if I wanted to take it on so they could concentrate on other new and existing business interests.
“I had no hesitation in grabbing the opportunity with both hands and I would like to thank my fellow investors, as well as Neil Large from Lupton Fawcett, for acting so quickly to enable the deal to conclude in just three weeks.
“There is untapped potential for Convert for Van and I am looking forward to building on the bedrock of success provided by Scott and Katrina.”
Neil Large, of Lupton Fawcett, said,
“It was a pleasure to work with the four-person buyout team who are all highly focussed and know exactly where they want to drive the business. There is a lot of consolidation in the market so these will be exciting times for the business under its new ownership.
“Daniel, who will be leading the operation, has a real passion for the business and a clear vision for its expansion and development. With the wider support from the whole buyout team at the strategic, financial and operational levels, I have no doubt revenues will increase quickly.”
(L to R) Neil Large, Mark Staniland and Daniel Staniland