M&A Advisory - selling a business
Condale Plastics
Adviser to Plastic manufacturer Condale Plastics on its sale to Swedish group Lifco. Background Based in West Sussex, Condale Plastics was established in 1969, and is a specialist manufacturer of bespoke plastic extrusions. They manufacture high-quality rigid plastic profiles and tubes, flexible plastic profiles and tubes and plastic co and tri extrusions. The extrusion operation includes a complete in-house tool production and maintenance service. Condale Plastics’ extensive experience in plastic extrusion manufacturing, commitment to quality and outstanding customer care has awarded them many repeat contracts and recommendations. Action Condale Plastics appointed FRP Corporate Finance to support the transaction because of the team’s expertise, bandwidth and the ability to assist large privately owned companies with their exit process. The FRP team secured a buyer for the £18 million turnover business. It was important to find a buyer for the right price and the right terms for the founding directors, and Lifco was the ultimate buyer who ticked all the boxes. Outcome Although Condale Plastic have been successful for over 50 years, the transaction enabled Lifco to facilitate further capital investment and a growth in sales. The firm will continue to operate from its 6,000 sq.m manufacturing facility, which features 33 extrusion lines including a separate unit for the production of medical grade extrusions. Condale’s strong team of 80 will continue to support its diverse range of customers in sectors ranging from retail and horticulture to construction and transport.
Adrian Alexander Partner Corporate Finance Brighton +44(0)7889 412 631 adrian.alexander@frpadvisory.com
Selling a home-grown business will always be a difficult decision but FRP Corporate Finance ensured we found a suitable buyer and delivered a seamless transaction.
Nick Lovelock Senior Manager Corporate Finance Brighton +44(0)7585 903 640 nick.lovelock@frpadvisory.com
David Dalton Condale Plastics
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