Bolton coatings firm swallowed by international rival

Bolton company Firwood Paints has been acquired by West Midlands-based industrial coatings business Trimite Group for an undisclosed sum.

Latest accounts for Firwood, to September 30, 2016 say the company has a turnover of £2.42m but made a loss of £184,509 and has a headcount of 33.

Trimite was advised by West Midlands law firm Higgs & Sons’ corporate team.

Trimite is one of the world’s leading coatings businesses, supplying global customers from its principle manufacturing facilities in the UK as well as Ireland, USA, Brazil, India, China, Indonesia, Germany and Hungary with a comprehensive range which spans pre-treatment products as well as powder and liquid paint coatings.

Chairman David Roberts said: “We have been in dialogue with Firwood’s owners for some time and their business is a natural addition to our group.

“Firwood will both compliment and extend our range of technologically advanced coatings, all designed and manufactured in the UK, for our world-class customer base.”

Martin Wallen, chairman of Firwood Paints, said: “I am very pleased to have found a home for our business in the Trimite Group and I am confident that they will integrate and grow the business successfully.

“Trimite have an excellent technical reputation and are committed to growing volumes on the back of their comprehensive infrastructure and global reach.”

Higgs & Sons partner Adrian Cutler and associate Jamie Partington led the legal advisory team on the deal.

“As a relatively new client to the firm, we have worked hard to understand how the Trimite team operates and how they want and need their legal services delivered,” said Cutler.

“We are looking forward to building our relationship on solid foundations.”

Partington added: “The acquisition of Firwood Paints will enable Trimite to move forward with its plans to continue to better serve its broad range of customers. We were really pleased to have helped the deal achieve such a successful outcome.”