Thu, 09 May 2024 | MBO/MBI
A manufacturer of window and door hardware has been acquired in a management buyout (MBO). Cotswold Architectural Products Ltd (CAP) has been acquired by three senior management figures in a deal supported by Burgis & Bullock Corporate Finance and Lodders Solicitors.
CAP, which is based in Cheltenham and also has a Mumbai office, was founded in 1973. The company manufactures and sells window and door hardware to manufacturers and distributors in the UK and internationally.
The company was previously owned by Caldwell Manufacturing Company, prior to Assa Abloy's 2022 acquisition of Caldwell. CAP Managing Director Tim Ferkin, ex-Caldwell Manufacturing Company CEO Eric Mertz and CAP general manager in India Umesh Gamai have now acquired the business through the MBO.
Tim Ferkin commented: "We're pleased to have been able to complete the management buyout, which will enable an acceleration of the group’s growth and investment plans. We have already established a manufacturing subsidiary in India to increase our production capacity and, with the deal completed, we can now press on with the next stage of our growth strategy.”
He continued: "With sellers in the US and operations in the UK and India there were many complications and hurdles to overcome, but we are delighted to have completed the deal and look forward to a bright future for Cotswold Architectural Products."
Simon Chapman and Phil Stevens from Burgis & Bullock’s corporate finance team advised the management team on the transaction. Chapman commented: "We are delighted to have supported the management team in this acquisition, working with the sellers in the US and two subsidiaries in India to facilitate the cross-border deal.”
"Tim, Eric and Umesh have ambitious plans for the business and we look forward to following their success.”
"This is the latest in a string of international merger and acquisition deals on which Burgis & Bullock has advised, following recent support on the sales of Xchanger Services Limited to Vestas Aircoil in Denmark and the sale of CORE Information Management Systems to Mental Health Informatics in Norway."
Read more about manufacturing M&A trends
Find out about the growing popularity of MBOs
An opportunity has arisen to purchase the Business Assets both tangible and intangible to include Goodwill of an established business engaged in the designer & manufacturer of automated precision component cleaning systems utilising the entire range...
An opportunity exists to acquire the business and assets of a Westcountry based manufacturer and installer of domestic and commercial aluminium door, window and curtain wall products.
A prominent manufacturer of personal care and related products wants to sell a group of well-known brands in its’ extensive portfolio.
13
|
Feb
|
Danish-owned ITGL snaps up Swindon-based cybersecurity firm ISN | BUSINESS SALE
Technology services provider Intuitive Systems & Networks (I...
13
|
Feb
|
Troy UK falls into administration | ADMINISTRATION
Tools and maintenance supplier Troy (UK) has fallen into adm...
13
|
Feb
|
C&M Scientific buys Radison Services to expand UK footprint | BUSINESS SALE
C&M Scientific, the dedicated service arm of Scientific Labo...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.