North West firms cement exclusive relationship through acquisition
Accountancy and business advisory firm, BDO, has advised Radcliffe-based adhesives manufacturer ITAC on its acquisition by gutter and roof refurbishment specialist, HD Sharman, from Chapel-en-le-Frith.
ITAC specialises in the creation and manufacture of bespoke adhesives and coatings for a wide range of applications around the globe.
In particular, its Delcote and Seamsil brands produce a continually-evolving range of adhesives and coatings specially formulated for the roof renovation and construction industries.
Private equity-backed HD Sharman provides gutter refurbishment systems in the industrial and commercial building products sector and is currently experiencing a period of strong growth.
The sale, for an undisclosed sum, will see the businesses join forces, further cementing a successful exclusive distribution agreement which has been in place since 2018.
Paul Armitt, managing director of ITAC, will remain with the business in the short term to support the wider group’s growth strategy.
ITAC was advised by the M&A team at BDO in the North, led by partner Jason Whitworth and managing director James Fieldhouse.
Paul Armitt said: “Both ITAC and Sharmans are long-established and successful family businesses and this sale will see ITAC aligning with a reputable company within the industry with which we hold strong synergies and share many values.
“It has been a pleasure working with BDO to complete this sale and I look forward to seeing how the business develops under the new structure.”
Mark de Rozarieux, managing director of HD Sharman, said: “We are proud that our manufacturing is based here in the UK and this acquisition will see the overall business strengthen its offering with further investment in site operations, people and technology.”
James Fieldhouse, M&A managing director at BDO in the North, added: “This is a strategic acquisition which sees two fantastic North West businesses join forces to accelerate future growth.
“The building products and services market is an active sector for M&A, and we’d expect to see good transaction volumes into 2020 with strong investor interest in quality assets.”
