Sunday, July 21, 2024

Northamptonshire manufacturer sold to Swedish company

Spraylat International has been sold in a cross-border deal to Bergman & Beving (B&B).

Spraylat is a Corby, Northamptonshire based manufacturer and distributor of temporary protective peelable coatings across a range of sectors. The company manufactures and sells temporary protective peelable coatings for windows primarily in new constructions and renovations.

Half of Spraylat’s turnover is generated in the UK, and the remaining sales take place worldwide.

A partner-led advisory team from PKF Smith Cooper Corporate Finance consisting of Darren Hodson, Josh Gurton and Lauryn Mayson provided sell-side advice to the shareholders.

The PKF team led a full sales process, identifying B&B as a suitable buyer for the business. B&B is a Swedish public company comprising approximately 30 companies generating a total revenue of £375 million in 25 countries across the globe.

The board of B&B view Spraylat as having good growth opportunities and strong “technical know-how.” Spraylat will be part of the Division Core Solutions as of 1st July.

Andrew Keir, Managing Director of Spraylat International Limited, said: “Darren and his team were excellent throughout the deal, helping us identify Bergman & Beving as the right partner, and supported us each step of the way to navigate this complicated cross-border deal. They provided invaluable insights throughout the deal.”

Darren Hodson, Corporate Finance Partner at PKF Smith Cooper, said: “Spraylat has developed innovative products that have world-wide relevance. The deal with Bergman & Beving will secure investment into the business that will ultimately drive further growth. It’s great to see Midlands businesses continuing to secure international investment.”

Andrew Cowan, Partner and Head of Corporate for Gateley Legal in Birmingham, who provided legal support, said: “It has been great working with Spraylat and its shareholders on this cross-border deal. Bergman & Beving seems to be the perfect home for Spraylat’s niche product range and its exciting growth opportunities.”

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