Case Study: Successful sale of long-standing family service station business
Background
St Michael’s Services is a long-standing, family-owned business operating four service stations across Dumfries and Galloway. Founded and managed by Jamie Wood, the company has grown into a highly successful and cash-generative enterprise, with significant investment made in its facilities over the years. With the business on a strong footing, Jamie decided to retire and sought a buyer who could maintain the company’s strong reputation and continue its growth trajectory.
How we helped
A long-standing client of Armstrong Watson for almost 30 years, Jamie has worked with Business Services Partner Douglas Russell for half of that time and sought the expertise of the firm’s Corporate Finance Team, who worked closely with Jamie to manage the sale process and achieve his retirement goals. Given the company’s strong market position and profitability, the opportunity attracted considerable interest within the sector, resulting in a highly competitive bidding process. The Corporate Finance Team negotiated an excellent offer from a buyer committed to maintaining the business’s service standards and investing in future growth. The Business Services team provided historic accounting and tax information, ensuring a smooth and efficient due diligence process.
Results
Armstrong Watson’s Corporate Finance team, Business Services team, along with legal advisers at Morton Fraser MacRoberts, successfully delivered the transaction ahead of tax rises in April (when the rate of Business Asset Disposal Relief is due to increase from 14% to 18%), ensuring a seamless transition and a promising future for St Michael’s Services.
Jamie said: “Armstrong Watson worked tirelessly to deliver great client service and aligned with the objectives I’d set out at the beginning. Dougie recommended Gary and his team at Morton Fraser MacRoberts and they delivered excellent service in collaboration with everyone at Armstrong Watson get the sale over the line.”
Corporate Finance Partner David Wilson said: “The successful sale of St Michael’s Services marks a significant milestone for Jamie, enabling his well-earned retirement. The buyer’s commitment to maintaining service standards and investing in future growth ensures continuity for employees and customers alike.
“This transaction highlights the competitiveness and activity within the fuel retail sector. Our experience in this space was instrumental in negotiating multiple offers and driving value for our client. We anticipate further deals in 2026 following a similar pattern, as consolidation and investment continue to shape the market.
“This was a cross-service line effort, with the Corporate Finance team partnering with the Business Services team to support the seller and deliver a complex transaction, showcasing the value Armstrong Watson can add through its collaboration across service lines.”
