Raventa hits deal trail with BMB swoop
An entrepreneurial couple have made their first acquisition since setting up a venture to buy businesses with growth potential.
Raventa, which was established earlier this year by Marta and Bill Ravenna, has paid an undisclosed sum for BMB Weatherproof Canopies, a £2.6m-turnover manufacturing business based at Wallasey, Wirral.
BMB, which employs 38 staff, makes forklift truck cabs in steel and PVC, and boot liners for hatchback cars. It was launched in 1989 by former owner Brian Blanchfield, who will continue to work as a consultant.
Marta and Bill Ravenna set up Raventa after taking a break after the sale of ColorMatrix Group, a liquid colourants manufacturer based at Knowsley. Mr Ravenna was a co-founder of the business, which was bought by US-headquartered PolyOne in 2012.
Raventa, which is based on the Woodside Business Park, Birkenhead, plans to accelerate BMB’s growth by providing financial and management support.
Mr Ravenna said: “Marta and I are delighted to have completed this transaction. Since the sale of ColorMatrix, we have been looking for an opportunity to acquire the right business. We see enormous potential in BMB and look forward to supporting its growth.”
Raventa was advised by a team at Manchester-based Hurst Corporate Finance comprising Nigel Barratt, Lauren Roberts and Richard Higham.
Partner Nigel Barratt said: “Marta and Bill are incredibly focused and determined, and I am sure that under their ownership BMB will be a great success. We look forward to working with them on other projects.”
Andrew Sturge and David Hayes, of boutique commercial law firm Turner Parkinson, provided legal advice to Raventa.
Ilan Elfassy, of mergers and acquisitions adviser BCMS, managed the transaction after being engaged by BMB’s shareholders to find a buyer for the business.
