Coatings industry specialist completes takeover of Spanish target
Family-owned Manchester firm Elcometer Group has acquired Spanish business Sagola SA, for an undisclosed sum.
Founded in 1947, Elcometer is a seventh generation family-owned business and a manufacturer and supplier to the coatings industry.
Its wide range of products are spread across three business divisions – abrasive blasting, coating inspection & physical test equipment and non-destructive test (NDT) equipment.
Elcometer exports more than 90% of the products it manufactures via its offices in France, Germany, Japan, The Netherlands, Singapore, UAE and the USA, and its global distribution network which covers more than 170 countries around the world.
Sagola is a second-generation Spanish family-owned business, based in Vitoria Gasteiz – the capital of the Basque region – and has a proud history in the design, manufacture and sales of high-quality, cutting edge spray guns, pumps and filtration systems which it has supplied to the automotive and industrial refinishing sectors for the past 65 years.
Through this acquisition, Elcometer will be uniquely positioned to offer its customers a comprehensive range of products across the complete coatings process, from blasting to paint application, inspection and lifetime testing.
Sagola SA will continue to be managed by the existing management team, led by Alejandro and Enrique Sanchez, targeting their sales on the automotive and industrial refinishing sectors.
Elcometer group managing director, Michael Sellars, said: “We are delighted to welcome Sagola into the Elcometer family.
“Sagola’s industry leading range of high-quality spray guns, pumps and filtration systems for the automotive and industrial markets sits perfectly alongside Elcometer’s range of blast, coating inspection and ultrasonic NDT equipment and takes Elcometer closer towards our strategic objective to provide a comprehensive range of products throughout the coatings process.”
International tax, accounting and advisory firm, Mazars, advised Elcometer on its acquisition, providing M&A lead advisory and due diligence services to Elcometer in the UK, Spain and Mexico.
Dave Hilton and Ryan Imison led the Mazars team managing the deal. Ian Riggs and Sean Lightfoot of Hill Dickinson provided legal advice to the Elcometer Group.
Mr Sellars added: “We chose Mazars to advise us on this deal as not only was the Mazars team able to provide a seamless solution across two continents, but also, as it is always much easier to work with people who really understand the end objective, both Dave and Ryan were able to work with us to find the right M&A solution to meet this deal’s commercial objectives.”