Manufacturer consolidates supply chain operation with acquisition
A BLACK Country manufacturer has consolidated its supply chain with the acquisition of a local business.
Walsall-based Albert Jagger is one of the largest manufacturers and suppliers to the commercial vehicle bodybuilder, boat builder, agricultural and engineering industries in the UK. It also supplies countries worldwide.
It has acquired Prestwood Engineering, also based in Walsall. Prestwood is one of the leading manufacturers of pressed components, welded assemblies and fabrications in the West Midlands. It specialises in low and medium volumes for the spare parts and after-market industries.
The deal, the terms of which have not been disclosed, sees all 12 Prestwood employees being retained. They will join the 100-strong workforce at Albert Jagger.
Garth Cooper, managing director of Albert Jagger, said: “We are now in the process of slowly and surely integrating the two businesses to achieve our goals.”
National audit, tax and advisory firm Crowe Clark Whitehill acted as lead adviser to Albert Jagger. The corporate finance team in the firm’s Midlands office in Oldbury project managed the deal from start to finish.
Corporate finance partner Andy Kay said: “The strategic thinking behind the deal was to bring in some ‘on shore’ manufacturing capability and was the result of a strategic review of the business we conducted with the directors.”
Mr Kay was supported on the deal by CCW partner Johnathan Dudley and corporate finance manager Chasz Coulsting.
Mr Coulsting said: “Albert Jagger have taken a long hard look at the events of 2016 and made the decision to bring some of their manufacturing closer to home. Prestwood Engineering was an ideal fit and provides both increased and varied capacity as well as economies of scale and distance.”
Legal adviser to Albert Jagger was Ansons Solicitors, led by Hilary D’Cruz and supported by Jamie Gill. Prestwood Engineering was advised by James McFarlane at Enoch Evans.
