Clairfield advises Homelux and Nenplas on MBO, acquisitions, and subsequent sale
The management of Homelux and Nenplas acquired the companies from US-based multinational in an MBO.
Homelux and Nenplas are leading suppliers of extruded and injection moulded plastic products for the tiling, DIY, furniture, caravan and shopfitting markets, who were owned by US-based multi-national Newell Rubbermaid. Homelux and Nenplas made the decision to dispose of the companies in order to concentrate on their strategic core business activities.
Clairfield successfully negotiated the acquisition of the business from US-based multi-national Newell Rubbermaid, whilst at the same time forming a 6-month plan to transfer all the services and group functions required into a newco.
Clairfield worked closely with the management team to secure appropriate funding from Maven Capital Partners who took a significant minority stake in the company. Orbis’ investment vehicle Intrinsic Equity also invested alongside management.
“A very high degree of enthusiasm and professionalism… Clairfield made a difficult and complicated process very easy for us.” – Alan Emery, CEO
Following the MBO and the success of the newco Homelux Nenplas, the management team decided to invest in strategic acquisitions. Over a three-year period, Clairfield assisted Homelux Nenplas in the acquisition of three businesses, Tilerite, Polyplas and Delta Plastics who each added the portfolio and customer base of the business.
In 2013 Clairfield led the multi-million-pound sale of Homelux Limited to QEP a leading worldwide manufacturer, marketer and distributor of hardwood flooring, flooring installation tools, adhesives and flooring related products.
During this process, Clairfield also completed the secondary buy-out of Nenplas Limited which was to remain with management and Maven Capital Partners.
Nenplas Limited has subsequently been sold to German company Döllken-Weimar, part of the German quoted group Surteco.
“Clairfield and SGH Martineau were invaluable to me during a complex deal process that involved splitting the business into divisions, immediately prior to the sale of Homelux.” – Rob Butcher, Managing Director
Industrials
MBO
Advisor to Homelux and Nenplas
Services :
Sectors :
Deal team :
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