Cleaning products firm swept up by major global player
A Northampton cleaning supplies firm has been sold to a Swedish giant which employs 5,400 people across the world.
Spinaclean has been snapped up by Lifco AB in a deal advised upon by Nottingham-based Provantage Corporate Finance.
Lifco’s strategy is to acquire businesses in niche sub-sectors across three core business areas: dental; demolition and tools; and systems solutions.
Legal advice to the shareholders was provided by a team at Knights consisting of Martin Smith, James Sparks, Ian Lawton and Tanya Dobson.
Mark Nice, operations director at Spinaclean, said: “I have been thoroughly impressed with Provantage and knights throughout the whole transaction. The team have been right by our sides from start to finish, their advice and communication has been clear, prompt, and professional, making the journey that much smoother”.
Andy Whiting, managing director at Spinaclean, said: “For most people the sale of a business is the biggest, once in a lifetime transaction undertaken in business, appointing both Provantage and Knights to advise was a shrewd and very satisfying investment. The whole team took dedication and professionalism to a new level – brilliant job!”
Alex Thompson, Provantage Corporate Finance, added: “We are delighted to have advised the shareholders on the successful sale of the company. Andy and Mark have built a fantastic market-leading business at the forefront of a niche market. Lifco AB represents an excellent strategic fit for Spinaclean, and I am certain will provide a great home for the business to continue to thrive. It was a pleasure working with the team at Spinaclean and we wish them every success in their continued development”.
Andy Shepherd, Provantage Corporate Finance, said: “Mark and Andy have created a really strong business from relatively humble beginnings and we’re so pleased to have had the opportunity to advise on the successful sale. Lifco AB represents the ideal opportunity for Spinaclean to continue to grow the brand across the globe, it’s an excellent home for such a promising company. It’s been a great journey to have shared with the team at Spinaclean and we wish them all the very best with their future growth plans”.
James Sparks of Knights added: “We are delighted to have worked closely with the team at Spinaclean to successfully conclude the transaction and on a short timetable. The company is well positioned with Lifco to continue its exciting growth plans and we look forward to seeing the business go from strength to strength.”