Advising on the sale of SNG Barratt Group to Radial Equity Partners

SNG, originally founded in 1982 and led by the second generation of the family in Julian Barratt (CEO), is a leading provider of restoration and replacement parts primarily for Jaguar marque vehicles. The company has approximately 110 employees with four operations in the UK, the Netherlands, France and the U.S. Headquartered in Bridgnorth, UK, SNG brings over 40 years of global service to the enthusiast community and is widely considered the sector expert in the restoration and replacement parts for classic and contemporary Jaguars. The company’s unique manufacturing and production capabilities and longstanding partnerships with some of the sector's leading brands, including Lucas & Girling, are a natural fit with the group created by Radial’s investment into existing speciality automotive companies (Moss Motors and Rimmer Bros).

Forvis Mazars acted as lead financial advisor on the deal and supported in delivering the deal with Radial, including pre-sale consulting advice, offer negotiation, and negotiating net debt and normalised working capital adjustments to deliver the best value for the shareholders, doing so in a timely manner and working collaboratively and pragmatically with the Radial team to deliver a successful outcome for all.

SNG was advised on the sale by a multi-service line team from Forvis Mazars, led by Dave Hilton, Chris Dale and Dylan Ibbotson from Deal advisory, supported by Sandy Cowan and Alex Kingston from SPA advisory, Andrew Spence, Richard Tidball and Sam Palmer from Tax, and Adrian Gill from Management consulting. Rob Andrews and his team from Excello Law were the legal advisors on the deal. 

Dave Hilton, M&A Partner: “SNG is a business with a longstanding heritage that has created a leading position in its market under the leadership of Julian Barratt.  A key objective was to align the Company’s history and culture with the right buyer, whilst maximising the value for the shareholder group, and it was apparent that the team at Radial shared this vision from the start, supplemented with a passion for high-quality manufacturing. The sale provides a great platform for the SNG journey to continue under its new ownership.”

Julian Barratt, CEO and former Shareholder of SNG: “We chose Forvis Mazars to represent us as our lead financial advisor because of their strong credentials and their personable approach. The advice and support I received from Adrian on both mine and my family’s objectives was critical, creating the path for the Forvis Mazars cross-service line offering to support me on all aspects of the deal and process management. Their careful and joined up advice on all elements of the deal and structure was key to ensuring any hurdles were navigated and that we reached a successful outcome. The team was always on hand to support through all the ups and downs and the sale could not have been achieved without their support.”