A Cornish mineral water company has changed hands after its former owner decided it was time to explore new ventures.
After establishing the business 15 years ago, former managing director Dan Carolan has sold Cascade Spring Water Company to South West businessman William Hiley.
Mr Hiley, who has retained all members of staff, is now looking to working with them to develop the business.
“I’ve been interested in mineral water for several years and am delighted to have been able to take over Cascade Springs and work with Dan and his team to ensure a smooth handover,” said Mr Hiley, a well-established businessman with various enterprises in the South West.
“Dan has built up an excellent company with a great team and a local and loyal customer base,” said Mr Hiley.
“They know the business inside out and they’re the best people to help me to take the business forward.”
Former owner Dan Carolan will continue to work with Mr Hiley for the interim period to ensure a smooth handover.
Mr Carolan said: “We were anxious to find a buyer who would retain the company’s independence within Cornwall.
“I’m delighted to have found a buyer like William who will keep the business in Cornwall and retain all the existing staff.
“In the past we have had offers for the business from other companies within the water industry but resisted as I knew it would ultimately mean the break up of the business.
“William is coming into this with a totally different perspective and sees the opportunities for growing the business from its Wadebridge base.”
John Mitchell, partner who heads up Winter Rule’s Corporate Finance team said: “I am delighted Mr Carolan has completed the successful sale particularly in this difficult market.
“It has been a pleasure to work with him on this deal and I, and my team, would like to wish him and Mr Hiley every success for the future.
James Orpin, partner at Stephens Scown, said: “This is the latest in a string of company sales we have handled for clients and I am sure that Mr Hiley will follow Dan’s footsteps in managing this business for many years.”
For more information about Cascade Spring Water Company please call 01208 814544 or visit www.cascadesprings.co.uk.