2020 annual review
2020 annual review
Shareholder sale secures bright business future Prowrap Limited is a specialist rewinder and manufacturer of aluminium foil, cling film and baking paper. Based in Bristol, the group has more than 50 staff, with revenue of £22 million, and exports to 25 countries. The sole shareholder was looking to dispose of his majority shares to realise value and fund business growth, and appointed FRP to advise on the sale of the business.
FRP team secures VRG’s strategic sale to Davies The Vehicle Replacement Group (VRG) is a specialist provider of vehicle solutions to the UK insurance market. Based in Birmingham but with offices across the UK, the business provides end-to-end vehicle rental, third-party intervention and new vehicle replacement through a technology driven platform. VRG’s shareholders wanted to explore their options for the £16 million turnover business, and instructed FRP’s Corporate Finance team to secure a buyer for the company.
The deal not only realised value for the shareholder, but also supported the business’ future growth. Mark Naughton Corporate Finance
The deal will offer significant opportunities for the team and benefit our highly valued clients. Matt Corby Founder and Managing Director, VRG
Outcome
Outcome
Our Corporate Finance team managed the entire sale process – from preparing the information memorandum and identifying potential investors, to negotiating the final deal with the private equity investment company. The business now has the financial backing it needs to continue to invest, and the management team can embark on the next phase of their growth strategy.
Our team managed a competitive process, and negotiated the successful strategic sale of the group to Davies, a leading specialist professional services and technology business. The sale structure accommodated the aims of all shareholders, and company founder Matt Corby will continue to lead VRG, working with the 4,000-strong Davies team.
Selling a business
Selling a business
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