Aspinall Capital Partners and Perscitus have completed the joint acquisition of powder coating company Vertik-Al Limited.
Led by Jon Moulton’s family office, the transaction was facilitated by debt funding from Clydesdale and Yorkshire Bank.
Under the terms of the agreement Vertik-Al and its group companies have become subsidiaries of a newly formed holding company.
Following the transaction, Graham Brown has been appointed MD of the group, while Angus Mackie has taken on the role of group financial director. Wade and Mike Lock together with Richard Gibbs will continue as directors.
Steve Aspinall, CEO and founder of ACP, says: “Aspinall Capital is pleased to complete the leveraged buy-out of two companies with significant growth potential. We are also delighted to have worked alongside Perscitus LLP, who have been integral to the successful execution of the transaction, and we look forward to working closely with the team to drive the future growth of the group.”
Adrian Field, partner at Perscitus, adds: “The family owned business has consistently delivered reliable, high quality services and products to the construction industry over 50 years and we are keen to maintain these standards into the future as we pursue new growth opportunities.”
Ian Howey, senior director from Clydesdale and Yorkshire Bank, says: “It is extremely satisfying to be able to assist in the evolution and development of businesses like this which have been in family ownership since they were established. We look forward to working with the new management team as the company goes from strength to strength.”
