Caldey Corporate Finance is delighted to announce the sale of Scitech Adhesives Systems Limited to its incumbent Management Team
The team at Caldey Corporate Finance led by Adrian Dray and Janine Vitali advised the Board and Shareholders of Scitech Adhesives Systems Limited (“Scitech”), on its sale to the incumbent Management Team.
Founded in 2002 by Alan Simpson and Trevor Jones, Scitech specialises in polymer technology and the manufacture of high-performance and evolutionary adhesives and coatings. Scitech works with prestigious customers to create market leading tailored products utilising its chemical expertise and development service.
Going forward, Scitech is targeting to be at the forefront of the development of recycled, fully compostable packaging and containers through its creation of leading edge barrier coatings. It is currently working with a number of global companies to create solutions across all areas of packaging.
Since the sad death of co-founder Alan Simpson, his widow Barbara, alongside Trevor Jones, have been considering the optimum future ownership structure of Scitech. The conclusion was to facilitate a Management Buy Out to enable the ownership of Scitech to transfer to the incumbent Management Team. Trevor has also elected to remain in the business as part of the team.
Barbara Simpson, who has worked in the business for twenty years leading the finance function, commented “Alan and Trevor founded Scitech over 20 years ago to create innovative solutions in the adhesives and coatings industry to solve complex requirements. I am delighted that Scitech will continue to deliver innovative solutions under the ownership and leadership of the Management Team”
Barbara further added ‘I was introduced to Caldey through a family member who had an extremely positive experience working with Janine and Adrian previously. I don’t believe that we would have achieved a deal without their hard work, commitment and innovative ideas. Janine and Adrian’s complementary skills were invaluable. Having never been through any sort of sales process, Janine and Adrian supported me in every way possible whether translating the complexity of the deal or just being there as a support. Both Janine and Adrian delivered beyond any scope set out in their engagement letter – they were totally focused on achieving Trevor and my objectives. I am delighted that we have structured a deal that allows me to stand back from Scitech and allows Trevor to continue to deliver more innovative solutions to the industry – his true passion.
Janine Vitali of Caldey commented “It is often challenging for founders to sell the businesses they have brought to life, nurtured and grown; however, it is perhaps even more difficult when you are selling the business your late partner created, alongside Trevor. We were cognisant of this from the first time we met Barbara. This was so much more than simply selling a business or shares. We remained, throughout the process, focused on the differing but equally important objectives of both Barbara and Trevor. We had to be innovative in terms of the structure we created and put in place. We are delighted that Barbara and Trevor are extremely pleased with the result which is our sole objective on every deal. We wish Barbara all the happiness in the future and hopefully look forward to hearing about the success of Scitech under the leadership and direction of Trevor and the Management Team’.
Caldey Corporate Finance is an independent advisor to entrepreneurs, owner managers and family-owned businesses. Caldey supports its clients and their business on their journey to value through delivering strategic advice, fund raising, management buyouts and acquisition services as well as exit planning and execution.
www.caldeycorporatefinance.co.uk
Contacts
Janine Vitali
07949 026229
Adrian Dray
07711 473237