Monday, May 10, 2021

Northampton cleaning equipment firm sold to Swedish group

Northampton-headquartered Spinaclean Limited has been sold to Sweden’s Lifco AB.

Spinaclean designs, sources, assembles, distributes, and sells specialist proprietary and own-branded cleaning equipment primarily focussed on niche end-user markets. Its products are distributed in over 26 countries.

Lifco AB is a business group with a total turnover of SEK 13.8 billion, employing c5,400 people worldwide. Lifco’s strategy is to acquire market-leading businesses in niche sub-sectors across three core business areas: Dental, Demolition & Tools and Systems Solutions.

Provantage Corporate Finance advised on the sale.

Alex Thompson, Provantage Corporate Finance, said: “We are delighted to have advised the shareholders on the successful sale of the company. Andy and Mark have built a fantastic market-leading business at the forefront of a niche market.

“Lifco AB represents an excellent strategic fit for Spinaclean, and I am certain will provide a great home for the business to continue to thrive. It was a pleasure working with the team at Spinaclean and we wish them every success in their continued development.”

Andy Shepherd, Provantage Corporate Finance, said: “Mark and Andy have created a really strong business from relatively humble beginnings and we’re so pleased to have had the opportunity to advise on the successful sale.

“Lifco AB represents the ideal opportunity for Spinaclean to continue to grow the brand across the globe, it’s an excellent home for such a promising company. It’s been a great journey to have shared with the team at Spinaclean and we wish them all the very best with their future growth plans.”

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