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Back to Press ArticlesAccolade for an outstanding performance
In a deal worth £2.5 million, Mr Chris Herman has sold his company J.C. National to fellow director Richard Steer. Colemans Solicitors of Maidenhead advised Mr Herman on the sale.
Mr Herman originally bought J & C Auto Supplies Ltd. in 1988 when the firm had an annual turnover of £800k. In a little over ten years he built up the company to a turnover of £6 million and a staff of 50 employees. He had four co-partners in the early years but bought them out over a period of time until he became the sole owner in 1995. In the process J & C Auto Supplies Ltd. became one of ICI's top-ten distributors of vehicle paints in the whole of the UK and now trades as J.C. National. As well as specialised vehicle paints, the company also distributes bodywork equipment to the motor trade, and has a subsidiary car body repair operation called Manhatten Coachworks which carries insurance company approval. Chris Herman says, "Richard Steer joined my company from a competitor to be the Sales Director but with an option to buy me out within 12 months. He was so impressed with the way we performed that he exercised his option after just 8 months. This was a big step for me so I felt I needed the best legal advice I could get which is why I turned to local solicitor Mike Stone of Colemans, a firm which had given me excellent service in the past over employment contracts, property acquisitions, and other important matters."
Mr. Herman sold both J.C. National and Manhatten Coachworks to Mr.Steer but has left his daughter, Georgina, in place as Customer Support Manager - a decision which ensures continuity for J C's appreciative customers.
Although Chris Herman will retain his major shareholding in another local company, Parkford Coachworks Ltd. of Taplow, he plans to devote much of his time to his hobby as a rock-and-roll dancer. One of his great pleasures is auctioning one-hour lessons for charitable causes. He is so well known in this activity that his lessons fetch up to £100 each at auction, a fact which delights the charities he supports.