Toughened glass manufacturer sold to investment firm
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Merseyside-bases toughened glass manufacturer GJC Holdings has been sold to an investment firm.
RSM UK Corporate Finance advised the shareholders of GJC Holdings, whose trading subsidiary is TuffX Processed Glass, on their sale to Alcuin Capital Partners.
Graham Price, the founder of TuffX said: “The sale to Alcuin and the ongoing involvement of John Tierney, the Operations Director, provides a natural succession and a strong foundation for future growth.”
Operations director John Tierney is continuing with the business.
He said: “I am excited to be working with Alcuin to continue to support the growth in the business. RSM has found us the right partner to work with to continue to invest in the development of new products, and efficient manufacturing processes.”
The transaction was led by Corporate Finance Partner Ian Latham, with support from Matt Kells.
Ian Latham, Corporate Finance Partner at RSM, said: “TuffX is a market-leading manufacturer of processed glass providing a broad range of quality toughened glass products and a high level of service to its customers.
“It has a been a pleasure to support Graham and John in growing the business and the sale to Alcuin is a strong platform for its future continued success.”
Weightmans LLP provided legal advice on the transaction. The team was led by Gary Jones, with support from Michael Murphy and John Kemp.