Camlee Group advises on IFS Chemicals’ acquisition by Huntsman Corporation

The Camlee Group recently acted as lead adviser for its client, Norfolk based IFS Chemicals Ltd, which was acquired by Huntsman Corporation (TX, USA), a publicly traded global manufacturer and marketer of differentiated chemicals.

Located in Kings Lynn, IFS was established more than 35 years ago and its bespoke MDI systems are used in a diverse range of end markets, including insulation, appliances and automotive. The Company was founded in 1982 by Barrie & Diwy Colvin and Ian Widdowson, who have built the Company to be one of the most respected companies in the market over the past three decades.

Commenting on the acquisition, Tony Hankins, President of Huntsman’s Polyurethanes division said, “IFS provides us with great access to the growing downstream MDI formulations market in the UK. They have a highly experienced team with a very loyal customer base, which is due to their fast, flexible and dependable service.”

Barrie Colvin, who will continue to play an active role in the Company added “I believe the synergies created between Huntsman and IFS will provide exciting opportunities in the UK market. I’m looking forward to seeing IFS develop these new found relationships and want to thank Camlee for their support and dedication throughout the process”.

Advising IFS on behalf of Camlee were Managing Director; Cameron Varley and Corporate Finance Manager; Max Perry, who worked closely with the team throughout. Max commented, “We couldn’t be happier for Barrie, Diwy, Ian and the Company. The founders of IFS can move forward safe in the knowledge that the long term future of the Company is secure. Furthermore, the deal reflects a very positive outcome for all parties going forward and we’d like to wish both IFS and Huntsman all the best for the future.”

Legal advice was provided to the shareholders by James Hunter, Partner and Lucy Mitchell of Mills & Reeve LLP.

The deal value was not disclosed.

Camlee Group advises on Xtralite’s acquisition by The Jet Group

With effect as of 14th December 2016, the JET Group (Hüllhorst, Germany), which is active throughout Europe, acquired 100 percent of the shares in the company Xtralite Rooflights Ltd.

The company is based in Northumberland and employs about 90 people. Xtralite is one of the largest manufacturers in the field of customized rooflights as well as structural glazing solutions in the United Kingdom. The company was founded in 1993 and has been in private hands up to now. The company founder Bob Tweedy and board members will continue to play an active part in the company. “We are very enthusiastic about the technical competence and strong brand reputation of Xtralite,” emphasizes Eric Pans, CEO of the JET Group.” Bob Tweedy adds “Such a Partnership ensures a bright future for all at Xtralite and allows us to tap into the vast resource JET Group has to offer.” Xtralite’s portfolio is complementary to the products and services from JET Cox Ltd. in Wednesbury. Both companies will operate independent from each other and continue to serve their market segments.

Bob Tweedy said “I’m looking forward to seeing Xtralite thrive with its new found relationships and want to thank Camlee for their consistent support and dedication throughout the process”.

Advising Bob on behalf of Camlee were Director Lee Wojtkiw and Corporate Finance Executive, Christian Hitchen, who worked closely with the team throughout. Christian commented “We couldn’t be more pleased for Bob and the Company. The deal reflects a genuinely fantastic result both for our clients and the company going forward and wish both Xtralite and Jet Group all the best for the future.”

LDC backs MBO of PAW Holdings

The Camlee Group is delighted to announce the completion of a Management Buy-Out of Skipton-based PAW Holdings Limited (“PAW”). The transaction was backed by mid-market private equity investor LDC and will support the company’s growth strategy.

Established in 2001, PAW is the UK market leader in the design, manufacture and installation of pre-engineered light gauge building systems. The business has successfully built a reputation for innovation, technical expertise and reliability, and is recognised as the UK’s leading specialist in the market.

For the current financial year, the business is on track to achieve revenues of £23million, which has grown strongly in recent years on the back of increasing demand for PAW’s specialist service. The business employs more than 80 people across its sites which include locations in Skipton, Brighouse, Evesham and Glasgow.

The MBO was led by CEO Roger French, construction director Paul Smith, commercial director James Walker and technical director Andrew Walker. Founder, Alan Walker also remains a director and board member at the company.

Paul Thompson, Project Director at the Camlee Group commented: “It was almost immediately apparent that this was going to be a highly competitive process, and we had a number of considerable offers on the table. However, LDC’s desire to take the transaction forward ultimately shone through. We couldn’t be more pleased to have been able to achieve such a successful outcome for Alan and the Team and wish them every success in the future”.

LDC, part of Lloyds Banking Group, is the leading private equity company in the UK mid-market. It has more than 30 years’ experience of working with ambitious management teams to create business partnerships that deliver exceptional results. The firm currently has a portfolio of more than 90 businesses across the UK, which collectively generates £5.5billion of revenues and employs in excess of 40,000 people.

Dale Alderson, Investment Director at LDC, added: “PAW is a high quality business built on specialist technical know-how and customer focus. PAW recognised a gap in the market and developed a product and service that meets customers’ exact requirements, at every stage of the build process. We are delighted to support the business during its next stage of growth and development.”

The successful conclusion will see the new management team take over in partnership with LDC. Founder, Alan Walker, who remains a director and board member at the company commented that he is “delighted by the result. Camlee has been impressive throughout, with Paul having worked tirelessly on the deal at every stage in the process. The support has been invaluable in achieving a fantastic outcome for myself, for the team and for the business. I look forward to seeing PAW flourish in the coming years”.

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Lindström clean up

It has today been announced that leading textile service company Lindström Oy has acquired Enviro Wipes UK Limited, much to the delight of the shareholders, who were advised by Manchester-based corporate finance company and business sales specialist the Camlee Group.

Enviro Wipes specializes in the supply, processing, laundering and distribution of recyclable wipers. Established as Printers Cloth Company in 1992, and rebranded as Enviro Wipes in 2013, the Company serves a client base of over 1,500 customers involved in the print and packaging, automotive, manufacturing and maintenance industries.

Lindström is one of Europe’s and Asia’s leading textile service companies with over 165 years of experience in the textile industry, offering solutions for the cleanliness and interior design of facilities, corporate clothing and protection.

Present in 24 countries, employing over 3,000 staff and with annual turnover of over €300 million, Lindström offers workwear in all its countries of operation and mat services across 10 European countries. In addition, the service portfolio of the Group includes personal protective equipment, shop towel, hygiene and restaurant textile services as well as the textiles of hotels and the health care industry.

Paul Thompson, Project Director at The Camlee Group lead the transaction and had this to say, “We’re delighted to have closed this deal for our clients. In Lindström we believe we identified an acquirer that has an enviable global reputation and a track record of success. We believe that under Lindström’s astute leadership, Enviro Wipes can continue to grow and prosper as part of the global Lindström Group”.

Phil Walker, Director of Enviro Wipes explained that Camlee played a pivotal role in bringing this deal to completion, “Camlee took an active and hands on role in the management of this process from the outset. Paul has remained focused and proactive throughout and we are grateful to him and all of the team at Camlee. The experience and ability to negotiate a deal that suited the shareholders was important to us and Paul assisted in keeping us on track to completion by remaining objective in the run up to completion”.

Soresh Meeda, Managing Director of Lindström UK said, “First of all, I would like to welcome Enviro Wipes into the Lindström family. People are the most important asset Lindström and Enviro Wipes has. That’s why I am really looking forward to see what we can accomplish together”.

The legal advisors on the deal were Duncan Firman, Partner at Gordons LLP for the sellers and Andrew Cotton, Partner at Hammarström Puhakka Partners for the buyers.

British Engineering Services makes maiden acquisition

Manchester based Corporate Finance Boutique, The Camlee Group announces a deal in which British Engineering Services acquired Nortest Ltd for an undisclosed consideration. The deal was brought to a successful conclusion to the delight of Owner, Charles King.

Nortest offers a range of non-destructive testing, positive material examination and welding certification services. Following the transaction, it will continue to trade from its custom-built laboratory in Salford.

British Engineering Services group chief executive Stewart Kay said: “I’m extremely proud to announce today our first acquisition as British Engineering Services. We are a relatively new business, but we have a long and illustrious history in our industry.

“With the inclusion of Nortest into our group we add additional expertise in the non-destructive testing market, offering our customers increased services. Nortest has built an enviable reputation since they started trading in 1980 and this acquisition represents an excellent addition to the British Engineering Services group.”

Charles King, Nortest Managing Director, will stay with the company and become its business development manager.

He said: “This is a great day for the Nortest family. British Engineering Services presented a compelling description of where they wanted to take the business. I’m thrilled that everyone at Nortest will be part of that journey.”

Robit builds on global growth strategy with acquisition of Bulroc

Manchester based Corporate Finance Boutique and Business Sales Experts, The Camlee Group announces a deal in which Robit Plc acquired Bulroc (UK) Ltd for a consideration of £10.1 million. The deal was brought to a successful conclusion to the delight of Owner, John Hurt.

Since its inception over 45 years ago, Bulroc has grown into a leading supplier of Down-the-hole Hammers and related accessories for major UK and international construction clients. Based in Chesterfield, UK, the Company also operates a second sales office in Hong Kong and has a combined workforce that is 46 strong.

Robit Plc, is a leading manufacturer and supplier of high quality button bits for rock drilling, as well as casing systems for ground drilling. Headquartered in Finland, the Company has a number of overseas offices across, Europe, the Americas and the Far East through which it maintains a global distribution network. Bulroc was quickly identified by Robit as an excellent opportunity to expand both its UK presence and grow one of its core strategic drives in Down-the-hole Hammers.

Harri Sjöholm, Chairman of Robit reported “The acquisition is an important part of Robit Plc’s global growth strategy. Through simultaneous acquisitions, Robit Plc has become a remarkable global supplier in the Down-the-Hole business segment”

John Hurt, Director and Owner of Bulroc added “The sale of Bulroc is a positive development for all concerned and will provide the strategic drive needed to see the Company, its staff and customers thrive in the global market”

Point of Rental Inc. acquires Higher Concept Software Limited

Manchester-based Corporate Finance company and business sales specialist, the Camlee Group has announced today the sale of its client, Higher Concept Software Ltd to Point of Rental Inc. much to the delight of its Owners, Bill & Katy Kukstas, Mark Goodrum and Dan McKenna.

Established in 1998, HCS is the creator and distributor of the market leading Syrinx hire management system for the rental and asset management industry. HCS is one of the first choice suppliers for rental companies of all sizes, spanning a wide range of industry sectors including Tool; Plant; Powered Access; Cranes; Construction; Accommodation; Event; Audio-Visual; Gas and Oil; Utilities and Rail and can boast a customer base that spans across UK and Europe, Australia and the Middle East.

The Company was a natural fit for acquirers, Point of Rental, as it provides a direct entry point to the UK and European market. Headquartered in Texas, USA and with offices in Australia, Point of Rental was founded in 1983 by ex-employees of NASA and has supplied rental management systems to more than 2,000 customers across the United States and Australia.

Paul Thompson, Project Director at the Camlee Group stated, “I’m extremely happy to have been able to facilitate such a successful outcome for our client and in such a rapid space of time. It was immediately apparent that there was a significant appetite from the market, with a number of competitive offers on the table. However, in the end, Point of Rental’s resolve to acquire shone through. I’m sure HCS will make a valuable addition to Point of Rental’s portfolio as it continues to go from strength to strength”.

Owner and Managing Director of HCS, Bill Kukstas said, “I’m extremely pleased with the result that has been achieved here and am thankful to Camlee for their invaluable support throughout the process. Paul and Christian offered hands on support from the onset, taking control of key issues with unwavering dedication. I look forward to seeing HCS thrive under the guidance and infrastructure of its new owners”.

Brennan Industries makes a new connection

Manchester-based corporate finance company and business sales specialist the Camlee Group today announced the sale of its client, Truflow Hydraulic Components Limited to Brennan Industries Inc, much to the delight of its founders, Nigel and Andrew Pincher.

Founded in 1986 in Walsall, Truflow is a manufacturer and distributor of hydraulic components and has earned a reputation as one of Europe`s leading hydraulic component suppliers and pride themselves in offering ex-stock products to the U.K and European market.

Based in Cleveland, USA and established in 1953, Brennan Industries provides companies throughout the world with the highest-quality, critical flow components and can boast a product portfolio that offers customers 40,000 different styles and sizes. Brennan has manufacturing sites in the US, China & India and supplies its vast customer base from several locations across the States, Canada and China.

Lee Wojtkiw, Director of the Camlee Group lead the transaction on behalf of the vendors and has this to say, “I’m delighted that we have successfully concluded the sale of Truflow Hydraulic Components, a leading UK & European hydraulic component supplier, to Brennan Industries, a leading global supplier of critical flow components. This transatlantic deal will enable Brennan to expand into the UK & European market and ensure that Truflow can continue its own development with the backing and support of a global player”.

Nigel Pincher of Truflow said, “We’re grateful to Lee and Max at Camlee for their hard work and persistence in bringing this process to a successful conclusion. Their expertise was invaluable throughout the process, but particularly in the latter stages of the deal.

Civica acquires Norwel Computer Services

22 April 2016, London: The Civica Group, a market leader in critical software applications, digital solutions and business process services that help organisations transform the way they work, has announced that Civica UK Limited, the company’s wholly owned subsidiary, has acquired legal IT solutions provider Norwel Computer Services Limited. Norwel appointed The Camlee Group as advisors on this transaction.

Based in Cheadle, Norwel specialises in application software and related services for the legal sector, supplying more than 60 customers in both public and private sectors. Its products for legal practice and case management, including cloud-based software-as-a-service (SaaS) solutions, are used by customers to automate day-to-day processes for improved services and increased productivity.

The company has continued to perform well in 2016 with customers in private practice, local government and commercial, including new business wins such as Cumbria County Council and system implementations including Parisi Tax LLP and United Utilities.

Simon Downing, chief executive of Civica said, “I am delighted to welcome Norwel to the Civica Group. IT systems have an increasingly important role to play in delivering improved performance and efficiency in a changing legal sector. Norwel brings specialist expertise to extend our position in the sector, and the combined business is very well placed to respond to the needs of customers to do more, do better and spend less.”

Alan Richardson, managing director of Norwel, said, “This is a very positive development for customers, partners and employees. The combination of Norwel’s sector expertise and Civica’s breadth and depth of capability creates a stronger legal IT partner at an important time for the sector. We look forward to building on our joint strengths and vision in order to deliver increasing value to customers.”

The Civica Group has a successful track record of acquiring and integrating businesses with complementary skills and technology.

About Civica

Civica (www.civica.co.uk) is a market-leading specialist in digital solutions, critical applications and outsourcing services that help teams and organisations around the world to transform the way they work. Combining exceptional customer focus, experience and commitment, Civica supplies more than 4,000 organisations in 10 countries around the world.

About Norwel Computer Services

Norwel Computer Services is an established provider of legal software with a 40-year track record of providing effective management systems to both private practice law firms and local authority legal departments. Its latest generation Prescient+ system provides a comprehensive yet flexible suite of case management and practice management software, including the Desktop Online portal for delivery of online client services via a secure web interface.