Berry Smith Advises Shareholders of Newport Auctions

posted by GRichardson

Berry Smith are delighted to have advised Jon and Fay Collingbourne on their sale of Newport Auctions Limited to Wilsons Auctions Limited.

 

The family owned Newport-based business was founded 35 years ago and successfully managed and developed by Jon and Fay into Wales’ leading independent auction house selling over 250,000 cars during this time.

 

Wilsons, also a family owned business, is the UK’s and Ireland’s largest independent auction company which, with this latest acquisition, raises their total number of sites to 17.

 

Emma Borrington, Corporate Partner, advised and supported Jon and Fay on the sale, said “It was a pleasure to work with Jon and Fay on this transaction and transfer this successful and well established Welsh business to new owners, Wilsons Auctions, who are also a family owned business, but have positioned themselves with a wider reach in the UK and Irish markets.

 

I and our team at Berry Smith wish Jon and Fay every success in moving on from auctioneering and developing their other business ventures.”

 

Jon Collingbourne said "I have been very fortunate to have enjoyed a long and happy career in the auctioneering business, as difficult a decision as it was, the timing was right to move on. When Fay and I made the decision to sell I underestimated the time and stress that would come with it. Luckily, the team at Berry Smith ensured that the process ran smoothly and Emma and Angharad worked with absolute dedication round the clock to ensure a successful sale.

 

I’m looking forward to the new opportunities ahead, but there will always be a fond place in my heart for auctioneering."

 

If you would like to find out more about Berry Smith LLP and think we could assist you and your business then please contact us. 

 

Advised

Emma Borrington

Tel - 029 2034 5511

eborrington@berrysmith.com