Coatings manufacturer acquired by Swedish group
Wed, 03 Jul 2024 | BUSINESS SALE
A manufacturer and distributor of temporary protective peelable coatings serving a range of sectors has been acquired by a Swedish group. The cross-border deal sees Swedish public group Bergman & Beving (B&B) acquire Northamptonshire-based Spraylat International.
Spraylat International’s temporary protective peelable coatings are designed for windows and primarily used in renovations and new constructions. The company generates around half of its turnover in the UK, with the remainder of sales occurring internationally.
Sell-side advice was provided to the company’s shareholders by a partner-led advisory team from PKF Smith Cooper Corporate Finance. The PKF team, comprising Darren Hodson, Josh Gurton and Lauryn Mayson, led a full sales process that ultimately identified B&B as a suitable buyer.
The B&B group consists of approximately 30 companies, generating around £375 million in total revenue each year across 25 countries.
PKF’s Darren Hodson commented: "Spraylat has developed innovative products that have worldwide relevance. The deal with Bergman & Beving will secure investment into the business that will ultimately drive further growth. It's great to see Midlands businesses continuing to secure international investment."
Spraylat International Managing Director Andrew Keir commented: "Darren and his team were excellent throughout the deal, helping us identify Bergman & Beving as the right partner, and supported us each step of the way to navigate this complicated cross-border deal. They provided invaluable insights throughout the deal."
Gateley Legal provided legal support on the deal, with Gateley partner and Head of Corporate in Birmingham, Andrew Cowan, saying that “Bergman & Beving seems to be the perfect home for Spraylat's niche product range and its exciting growth opportunities."
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