The Livingstone’s Business Services team has advised the shareholders of Faru SL, a Spanish protective equipment distributor, on the sale of the business to a subsidiary of Bunzl plc, a FTSE 100 listed company. Terms of the deal were not disclosed.
Created in 1993 and headquartered in Zaragoza (Spain), Faru is a B2B distributor of Personal Protective Equipment (PPE), Collective Protection Equipment including workplace signaling, safety and order, serving small and medium distributors of hardware and industrial supplies. With the broadest catalogue on Personal Protective Equipment in Spain, Faru has a registered track record of over 6,500 served clients since inception.
Bunzl is specializing in outsourcing solutions and value added distribution.The sale of Faru marks the third occasion where Livingstone has worked on a transaction involving Bunzl. Working in each case with the local Spanish business owners, Livingstone has advised the sale to Bunzl of the cleaning products distribution company Iberlim Catalanet, the protective clothing distribution business Marca and finally Faru. In the three cases, the business owners were able to secure their financial futures going forward while at the same time secure challenging management roles within the growing Bunzl organization in Spain.
Steven Lewis, partner of Livingstone commented: “Livingstone is pleased to have worked with the Faru shareholders to sell their business to the Bunzl Group. Our experience in working with a multi-national buyer like Bunzl certainly helped us in closing the deal. As this was the third time we had sold a local business to Bunzl, we were able to use our experience to achieve interesting terms as well as help to secure challenging management positions for the shareholders in the future. Faru is a well run distribution business which will benefit from Bunzl´s market leading position”.