06 Jul 2018
Laings are delighted to reveal that they are finalists in the ‘Acquisition of the Year’ category at this year’s Business Insider Deal and Dealmakers Awards, which will take place on Wednesday 5th September.
The Business Insider Deal and Dealmakers Awards acknowledge and reward excellence in corporate finance transactions and the ‘Acquisition of the Year’ category is about recognising the most ambitious, innovative or successful acquisition. Laings were pleased to be announced as finalists in this category due to the Laing Glasgow Holdings purchase of Laing the Jeweller and Parkhouse the Jeweller, bringing two parts of a family business back together in a much talked about deal.
Founded in 1840 and in the hands of the sixth generation of the Laing family the acquisition saw the original family business which in 2005 was split between Michael and Stuart Laing reunited. Bringing the businesses back together has meant that Laings is now one of the largest independent jewellery businesses operating seven stores across the UK under one brand.
Commenting on the announcement Joe Walsh, CEO said: “We are delighted to be finalists in the Deals and Dealmakers Awards. The acquisition for us was a unique opportunity to bring the two companies back together and we were delighted to be reunited as one family business. It’s an honour to build on Laings legacy as one and to take the family-run business to the next stage.
“This is a good time to be involved in our industry, with demand for high-end watches expected to reach £1.7bn over the next five years and jewellery revenues projected to expand by 4.3% this year. We see ourselves as custodians of Laings and we’ll always stay true to the original philosophy of the founders, to provide the finest quality products and highest level of service.”
Pictured: Wendy Laing, Marketing Director; Richard Laing, Director; Stuart Laing OBE, Executive Chairman; Jonathan Payne, Managing Director and Joe Walsh, CEO.