Takeover combines established plastics firms following protracted deal
A North West plastics firm has expanded with the acquisition of a Birmingham rival.
Manchester and Preston-based PAR Group makes and supplies engineering plastic, insulation and rubber products to customers in the UK, Europe and worldwide.
Advised by Manchester-based accountants and business advisors Beever and Struthers, PAR Group has acquired Birmingham-based Mountford Rubber and Plastics for an undisclosed sum in a deal delayed by the pandemic.
Established more than 35 years ago and operating from centres at Junction 19 Industrial Park, Heywood, and Chorley North Industrial Park, PAR Group works with the food and pharmaceutical, water treatment, brewing, chemical, mining and quarrying, aerospace, power generation, packaging, recycling and distribution industries.
Mountford, based at Bracebridge Street, Birmingham, has provided its customers with a complete range of rubber and plastic products and services for more than 35 years.
Chris Livesey led the transaction for PAR Group and said: “We are extremely pleased to have completed the acquisition of Mountford. They were a long-established supplier to industry with many mutual customers across various market sectors. Their business fits perfectly into our core range of products and manufacturing capabilities.”
Dean Curtis, corporate finance director at Beever and Struthers, said: “We finally got the deal over the line having agreed the acquisition some 18 months ago only for it to be postponed because of the global pandemic.
“Mountford and PAR Group have worked within the same industry sectors for many years and offer their customers many complementary products and services.
“For a number of years PAR Group has been focusing on expanding its product and customer range and positioning itself for further growth. Mountford is a significant acquisition by PAR Group, further strengthening its position as one of the leading plastic, insulation and rubber product suppliers in the UK.”
Rob Dobson, corporate partner at law firm Napthens, which has six offices across the North West, led a specialist team providing legal advice to PAR Group.