KBS Corporate advises on the acquisition of Spotnails Ltd - KBS

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KBS Corporate advises on the acquisition of Spotnails Ltd

Spotnails is based in Bedwas, South Wales, and manufactures, services and supplies Pneumatic Tools and Collated Fastenings. The company is well established and offers their own products as well as stocking other brands. Spotnails operate in a variety of sectors ranging from marine to funeral sevices.

KBS Corporate secured a management buy-out deal for Spotnails. The deal saw the company securing a £25 million fund which will preserve 24 jobs and was sourced by the Development Bank of Wales, through the Wales Management Succession Fund. Further funding was provided by the management team and Ultimate Finance. The investment will ensure Jason Quaife, Sales Manager, and John Jefferys, Finance Director will remain in their roles at the company.

Mr Quaife commented, “I’ve been with Spotnails now for 12 years and this is Craig’s 26th year in the company. I have a sales background and Craig has the tooling background from his apprenticeship here. The management buy-out is a very attractive opportunity for us both and it gives us a great advantage as most of the technical experts in the industry have retired or are about to retire.

“We have huge ambitions for the company and the support from the Development Bank of Wales is crucial to achieving these. We are very much a belt-and-braces industry. We are securing relationships and working with several manufacturers with strong brands to sell into the UK. We want to become the largest independent distributor of these types of products with our own branded product range too.”

KBS Corporate Associate Corporate Director, Tom Eatough advised on the deal and noted, “After what was a difficult due diligence and legal process, I was really pleased to be able to reach a successful conclusion for the sellers.  We ran a comprehensive research process and received a number of indicative offers, but ultimately the MBO team were best placed to take the company forward with the support of Development Bank of Wales.  I am sure the acquisition will be a great success and I wish both parties all the best for the future.”

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