Sheffix

Sheffield-based ironmongery and hardware supplier Sheffix has undergone a management buyout (MBO) led by Brad Wheeler, a long-serving employee who joined the company as a school leaver 20 years ago.

Summary of transaction details:

• Value: £300,000
• Sector: Industrials & Energy
• Advisor: Brearley and Co, Custom Business Finance, MD Law
• Key Entities: Sheffix, Brad Wheeler, NPIF II – Mercia Debt Finance, Norman and Elaine Pearce
• Location: Sheffield, UK

Note: The transaction provides an exit for founders Norman and Elaine Pearce, who established Sheffix in 1984. Supported by a £300,000 loan from the Northern Powerhouse Investment Fund II (NPIF II), Wheeler plans to expand the trade customer base, introduce locksmith services, and drive regional and national growth.