SICFL, which is based in West Bromwich, has been sold for an undisclosed amount by the company’s founders Cliff and Barbara Stanford, to Kevin Louch, who joined the firm in 1998 and has been managing director for nine years.
The company recorded turnover of more than £30m in the last financial year, and has provided concrete flooring to big brands such as Amazon, M&S, and BMW.
Cliff Stanford said: "Kevin has been with us for nearly twenty years and has done a fantastic job in the day-to-day running of the business.
"Now that we have decided to retire, we feel we are leaving the company in a safe pair of hands with solid foundations in place for it to grow even further in the coming years."
Walsall-based Baldwins Accountants advised both parties on the deal, with Higgs & Sons Solicitors acting for the Stanford Family and The Wilkes Partnership Solicitors acting for Kevin Louch.
Kevin, who is also joint-chairman and director of construction organisation Build UK, added: "This deal represents a really exciting opportunity to continue to grow the business in what is a highly competitive logistics and warehouse environment.
"Client demands are ever changing, so our focus is to stay on top of the latest technologies and training methods to ensure we remain the UK’s leading concrete flooring specialist."
Mark Selby, corporate finance director at Baldwins added: "We have been providing accountancy advice to the Stanford family as their company has grown, so we’re incredibly proud to see it going from strength-to-strength.
"It’s quite rare that we are able to advise both parties on a business buy out, but their longstanding relationship and shared business values meant that we were able to do so, which also bodes well for the future of the business."
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