Canadian investor makes first UK acquisition since launching in Manchester

Private equity firm Ardenton Capital has made its first acquisition in the UK.

The Canada-headquartered company, which launched in Manchester earlier this year, has snapped up independent hot dip galvanizer Corbetts the Galvanizers.

Based in Telford in the Midlands, Corbetts was founded in 1809 and is today led by managing director Tim Ward alongside financial director Sophie Boothroyd.

Both Tim and Sophie, having invested in Corbetts with Ardenton, will continue to head up the business.

Ardenton directors Michael Bradbury and Iain Marlow spearhead Ardenton’s Manchester-based team.

Michael said: “Corbetts is a great business with an impressive management team.

“We set out with a sector-neutral approach and a focus on robust and growing businesses supplying products or services that will be as relevant in 20 years’ time as they are today. Corbetts ticked every box for us.”

Corbetts’ Tim Ward commented: “We look forward to the next chapter working alongside the team at Ardenton.

“Our aim will be to consolidate our position in the UK market and continue to deliver excellence to our client base.”

Joe Rai, who represented the vendors in the deal, said: “The vendors are delighted that the business is passing to its management team and Ardenton who, they are confident will uphold the values and tradition of excellence for which the company is synonymous.

“We would like to thank our advisors KBS and Ardenton for facilitating an extremely smooth transaction that delivers an exceptional result for all parties.”

Yorkshire Bank’s Midlands corporate and structured finance team, led by Ian Howey and Ian Mansell, provided senior debt and working capital facilities.

Ian Howey, Yorkshire Bank senior director, commented: “It is extremely satisfying to be able to assist in the evolution and development of businesses like this which have been in private family ownership for many years.

“We look forward to working with Ardenton and the management team as the company goes from strength to strength.”

Chris Heatlie and Rob Dawes from advisory firm BDO Manchester carried out financial due diligence.

Law firm Addleshaw Goddard advised Ardenton on the deal, with a team headed up by private equity partner Paul Medlicott along with Katie Simpson and Becky Dove. Richard Oman and Jessica Burgess, of the company’s banking team, also worked on the transaction.

The vendors were advised KBS Corporate Finance’s David Gardner. Philip Stephenson from KBL provided legal advice.

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