Rustins acquires Cannock Care Products
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KBS Corporate has advised on the successful sale of Care Products Cannock Limited to London-based Rustins Limited for an undisclosed fee.
Trading as Wudcare Products, Care Products Cannock is a Staffordshire-based manufacturer and supplier of a comprehensive range of filler, adhesive and protective products for building trade merchants. The company introduced its popular ‘Wudfil’ products to the market in 1982 and, following significant success, expanded its product range over the next decade to include further wood adhesives as well as various complimentary products such as gloves, cleaning wipes and brushes.
Care Products Cannock was brought to the market in June 2015 due to our clients’ wishes to retire and, following interest from no less than 15 parties resulting in 3 separate offers, the company was sold just 8 months later.
The acquirer, Rustins Limited, saw the opportunity to increase their product range which includes a wide variety of wood finishing products and speciality paints. Established for almost 100 years, Rustins, which exports its products to more than 20 countries, was the first manufacturer of the popular ‘Danish Oil’ product and the company is now looking to grow and increase its market share.
Tom Eatough of KBS Corporate negotiated the deal on behalf of our clients and commented, “Philip [Byrne, outgoing shareholder] spent a number of years developing Wudfil into the reputable brand that it is today, so i am glad to see that Care Products Cannock will be passed on to safe hands in Rustins. I would like to wish Philip all the best with his retirement.”