Bolton-based business broker Hilton Smythe has recorded the most successful month since it was established six years ago. In March 2017 the firm agreed and completed the sale of 49 businesses in transactions with a combined value of £4.2 million.
The businesses sold were from a range of sectors including town centre staples such as high street cafés, fish and chip shops and post offices. Sales also included businesses formerly run by families, where the owners had no relatives to take over after retirement.
The record month demonstrates the strength of the economy following the instability following the EU referendum. Local businesses are increasingly becoming essential to the growth of the UK economy, and the high number of investments made demonstrates confidence in small businesses throughout the country.
Hilton Smythe facilitates the sale of small and medium sized businesses across the UK. It recorded a significant number of transactions in the East Midlands, the North East, and Yorkshire and Humberside.
The firm is already working towards beating the record month, with a number of businesses approaching the broker to support their transactions, and sales ready to be negotiated. One business Hilton Smythe is currently selling is the family owned bakery Settle’s in Bolton, which has been part of the high street for many years. Settle’s bakery is typical of the style of business Hilton Smythe sells on a daily basis.
Gareth Smyth, Group Managing Director for Hilton Smythe said: “We have had an excellent month in March, achieving our highest number of sales since launching. We have been able to facilitate a number of high value sales which will stimulate the economy and boost the number of UK-based owner-managed businesses by ensuring their continued success under new ownership.
“We’re thrilled to be selling Settle’s bakery, as we’re a Bolton-based business ourselves, and making a difference to our local community is important to us. This bakery has been part of the local economy for decades, and we want to match it to the right buyer to make sure its legacy survives.”
Gareth added: “We credit this record month to our experience and reputation. As industry leaders, we are able to match buyers to businesses, and advise a fair price for both parties. We are confident that we will continue to build our sales over the coming months, owing to our increased pipeline of buyers and sellers throughout the UK.”