ProSpool Ltd complete acquisition of fellow Leeds firm Select Bag Sealers Ltd

Leeds-based Select Bag Sealers Ltd has been acquired by ProSpool Ltd, also based in Leeds, for an undisclosed sum.

Select Bag Sealers manufactures tape bag sealing machines. The acquisition sees the business strengthen its position in Yorkshire as the two companies look to combine manufacturing expertise and extend the ProSpool product range.

Accountancy firm Mazars advised on the sale of Select Bag Sealers to the senior management team of ProSpool, headed by Richard Hobson and Simon Browning.

For over 30 years Select Bag Sealers has produced and supplied a wide range of automated bag sealing machines globally from its premises on Pepper Road.

Based in Yeadon, ProSpool provides contract spool-winding services and specialist bag sealing tape products.

Led by corporate finance partner Rob Burton and Will Brennand, the corporate finance team in Mazars’ Leeds office advised Select Bag Sealers’ owner Tom Foster on the sale, which was led by ProSpool managing director Richard Hobson.

Other advisors involved with the completion of the transaction include Geoff Thomas of Brown Butler acting on behalf of the buyer and legal advisors involved were Richard Buono of Blacks acting on behalf of Select Bag Sealers and Chris Schofield of Schofield Sweeney for the buyer.

Tom Foster, owner Select Bag Sealers, said: “I am delighted with the completion of the sale to a like minded business. We share similar visions and values and a commitment to deliver innovative, quality solutions for our customers so this acquisition provides great synergy for both businesses. For our customers it’s very much business as usual and I see a promising future for Select Bag Sealers working alongside the highly experienced and successful management team at ProSpool.”

Richard Hobson, managing director at ProSpool, added: “Product development and innovation are key areas of focus for us and the market leading equipment manufactured by Select Bag Sealers represents a highly complementary addition to our product range. We are looking forward to working with the Select Bag Sealers team and supporting new and existing customers.”

Rob Burton, corporate finance partner at Mazars, also commented: “It’s really positive for the region to see the sale of a successful manufacturing business to another Leeds firm. Both Select Bag Sealers and ProSpool have impressive track records and strong reputations which will be enhanced by the completion of this acquisition. We are delighted to support the timely completion of this deal and work alongside a team of Yorkshire advisors.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →