£10m turnover gate company swallowed by Japanese-owned rival

The £10m turnover company Bolton Gate Services Ltd – a provider of maintenance, repair and servicing for industrial doors and shutters – has been acquired by Novoferm Group (NF Group).

NF Group is a subsidiary of listed Japanese business Sanwa Holdings Corporation.

The terms of the deal were not disclosed. The Manchester team from Mazars Deal Advisory, led by David Hilton with support from Stephen Nagle, provided corporate finance advice to the shareholders of BGS on the sale.

Legal advice was provided by Simon Wallwork from Slater Heelis.

BGS is based on Waterloo Street in Bolton, has 15 depots and employs 120 people in the provision of a 24hr nationwide service for customers.

NF Group is Europe’s second-largest manufacturer and seller of doors, garage doors, industrial doors and related products. The acquisition of BGS enhances its offering and further strengthens the service network in UK.

David Hilton, corporate finance director at Mazars, said: “We are delighted to deliver a great result for the owners of BGS. The deal further highlights the attractiveness of quality UK assets to international acquirers; this is a trend we are seeing across Mazars Deal Advisory UK and global teams.”

John McGrady, exiting chief executive and shareholder of BGS, said: “BGS has seen consistent growth in recent years, and I’m sure the business has a bright future under Novoferm Group.”

TLT Solicitors advised NF Group.