The past month has been extremely busy at KBS Corporate Finance. Alongside our holding company, K3 Capital Group Plc, listing on the London Stock Exchange and experiencing its first few weeks trading on AIM, KBS Corporate Finance also completed the sale of two extremely notable Midlands-based clients.
Late March saw us advise upon the successful disposal of Vertik-Al Limited, a world class provider of aluminium powder coating services. Located in Birmingham, the company specialises in vertical and horizontal aluminium powder coating of products for the construction, rail, industrial and automotive industries.
Founded over 50 years ago, Vertik-Al was the first company to apply powder to aluminium products in the UK, and in the years since, the company has grown from strength to strength through continued innovation and a quality product offering. Vertik-Al is a family owned business that has passed through the hands of two generations.
The company was acquired by an entity backed by venture capitalist, Jon Moulton. As part of a wider portfolio of investments in similar industry sectors, strategic and synergistic opportunities were central to Moulton’s motivations to acquire Vertik-Al on behalf of his family office.
Post-acquisition, Moulton has expressed a desire to develop Vertik-Al’s sales and marketing strategy, invest in product research and development and open the company to new export markets. John Hunt, Director at KBS Corporate Finance, managed the deal through to completion.
Our second most recent completion involved a company situated only 20 minutes away from Vertik-Al. W Corbett & Co. (Galvanizing) Limited, based in Telford, Shropshire, is the UK’s leading independent hot dip galvanizing specialist, and having been at the forefront of the UK galvanizing industry for over 200 years, Corbetts is renowned for the quality of its work and exceptional levels of customer service.
The company was acquired by Canadian-headquartered private equity firm, Ardenton Capital, who recently opened an office in Manchester as it set to invest in the UK mid-market. Ardenton differs from most private equity firms by investing with a long-term focus, usually for a period of around 20 years. The acquisition represents Ardenton’s first UK transaction.
KBS Corporate Finance’s proactive approach in finding an acquirer from outside of the immediate M&A market ultimately led to a highly successful deal, in which the sole shareholder of Corbetts was able to exit the company swiftly in order to retire, in a multi-million pound transaction.
Dave Gardner, of KBS Corporate Finance, advised on the deal and commented, “The success of this acquisition can be attributable to the strong, professional relationships we held with both Corbetts and Ardenton, and through developing a deep understanding of Ardenton’s new acquisition strategy here in the UK. I know that Corbetts will continue to flourish under the direction of Ardenton, and I wish them all the best for the future.”