The Rigby Group is one of the largest family owned businesses in the Midlands and was founded nearly 40 years ago by Sir Peter Rigby. From originally being a pure IT group, with its technology solutions businesses, SCC and SDG, it has more recently diversified and created a chain of boutique hotels, The Eden Hotel Collection, and a substantial aviation business, including Coventry Airport.
Following a detailed strategic review of the Group, the Rigby Family decided the time was right to pass the technology distribution business, SDG, on to a global player and refocus on the remaining businesses. Due to delivering on other projects with the Group and the trust we had built with the family, we were asked to assist.
Our team, incorporating corporate finance, transaction support, consulting and tax, worked hand in hand with the Group on this major project for the family. As a result of a real focus on the value drivers of the SDG business and how this would fit with the population of buyers, the sale was successfully completed in November 2012.
With proceeds in excess of £200m this was one of the largest private business transactions in the Midlands. We are now helping the Group refocus and reinvest the proceeds into its remaining businesses and new ventures.
Commenting on the “exceptional” outcome of the transaction, Steven Rigby remarked: “I was delighted we selected PwC to assist us on such an important project to the family. The outcome they helped us achieve was exceptional and this was assisted by the high quality team, reacting quickly, utilising in depth industry knowledge and being passionate about helping us achieve the best result possible.
Our work with the Rigby Family continues and we’re delighted to be playing a role in a number of major projects as the Group embarks on its post-SDG disposal strategy.Steve Rigby added “PwC continues to demonstrate the importance of investing in and building strong, long-term relationships and bringing quality people and ideas to the table that really add value.”