Founded in 1938, Varley Castors is a third-generation family business which supplies original equipment manufacturers and resellers nationwide from their branches in Altrincham and Shropshire.
The acquisition, which is set to create the largest group of its type in the UK, is the first acquisition by castor and wheel manufacturer BIL Group since PHD Industrial Holdings acquired the business in 2022, a deal in which DWF also advised PHD.
Arbuthnot Commercial Asset Based Lending supported the acquisition of Varley with a £4.5 million finance package.
The DWF team was led by corporate partner Jonathan Robinson and senior associate Rosie Spencer with assistance from solicitor Anthea Nelson and paralegal Shaunna Barton. The corporate team was supported by tax partner James Cashman and solicitor Douglas Pyrke as well as banking partner James Szerdy and solicitor Tara Farrelly.
Jonathan Robinson of DWF, said: "We're thrilled to have had the opportunity to work with BIL Group in their acquisition of Varley Castors and to have played a role in this significant milestone for both businesses."
Timothy Murrow, Managing Director of BIL, said: “This first acquisition is a pivotal moment for BIL and is part of our long-term growth strategy, which is fully supported by PHD. The deal will broaden our product range and give Varley access to our extensive range of materials handling equipment, which will open up new sales channels for both sides.”
Philip Price of PHD said: “BIL was already the leading UK-based manufacturer of castors and wheels, but the addition of Varley makes it the largest UK-based distributor too. Since acquiring the business two years ago, we have worked with management to prepare it for growth. The deal shows the benefits of our investment model, which enables us to support traditional businesses like BIL and help them achieve long-term, sustainable growth.”
Andrew Spring of Varley Castors added: “Joining forces with BIL brings together two like-minded companies with shared values and a combined trading history of over 130 years. The alliance will provide long-term benefits for our clients. We look forward to working with BIL to enable both businesses to take advantage of the opportunities ahead.”
