Manufacturer boosts growth with PE deal

A FAMILY-owned manufacturing company with annual sales of £9m has announced a multi-million pound investment from a private equity firm.

Anglo European Holdings, which employs 45 people at sites in Newton Heath, Manchester and Deeside, has struck a deal with London-based Octupus Investments.

The deal, which was led by North West accountants and advisers Cowgill Holloway, sees brothers Paul and Chris Sullivan sell a minority stake to Octopus.

Founded in 1989, Anglo European is a major supplier of galvanised steel reinforcement products to manufacturers of PVC-u doors and windows. It also has a growing presence in the commercial vehicle market.

The investment will allow it grow further across the UK and Europe and to invest in new products for the commercial vehicle sector.

Paul Sullivan, managing director at Anglo European, said: “We are proud to be a UK-based family business. This deal will enable us to continue with our ambitious growth plans and to allow us to continue to invest in our business in the UK, providing continued opportunities for job creation.”

“The advice and support we received from Cowgill Holloway throughout the process proved invaluable.”

The Cowgill Holloway team was led by corporate finance partner, Paul Stringer and supported by Robin Prestage and Charlotte Heys.

Stringer said: “We have worked closely with the shareholders of Anglo European for the past couple of years and are delighted to have achieved this result. This deal will enable Anglo European to expand the business across the UK and Europe, and support the next stage of growth for the business ”

Lisa Wilson, tax partner at Cowgill Holloway and Kelly Garside provided transactional tax and structuring advice.

The vendors were advised by Peter Bibby of AB Corporate Law, Bolton. Octopus were advised by accountants WKCF and law firm Shoosmiths.

Click here to sign up to receive our new South West business news...
Close