The group, which has turnover of £11 million, comprises Swindon-based Robnor Resins, one of Europe’s leading formulators of epoxy and polyurethane resin systems and John Burn & Co, the UK’s leading distributor of resin systems and related products to the model, mould and tool making markets from its base in Birmingham. Ellsworth, based in Wisconsin, is a value added re-seller of a wide range of industrial products including adhesives, sealants and lubricants.
Cattaneo was retained to provide strategic advice to the shareholders of Halifax on their exit options including the prospects of selling the group as a single entity, the optimum timing of a sale and identifying strategic purchasers across from the globe. Ellsworth was selected as the preferred partner following strong interest from a variety of UK and international buyers. Cattaneo led negotiations on behalf of Halifax, managed the due diligence and legal processes and closed the cross border deal within five months of commencing the process.
WHAT OUR CLIENT SAID:
‘Our decision to appoint Cattaneo well in advance of our planned exit timetable proved invaluable. Their understanding of our business and, consequently, how we could best achieve a single sale of the group at the maximum price really came to the fore. Furthermore, their ability to bring UK and US transaction customs together in negotiating the deal was critical to its success for both parties.’
Gilles Coulombeau, Chairman Halifax Industrial