International group snaps up specialist industrial company

A supplier of products and systems for pneumatic conveying has been sold to a listed technical solutions group.

Doncaster-based Clyde Pneumatic Conveying Ltd, which employs nearly 50 staff and has a turnover of about £12m, has been acquired by Addtech AB.

Clyde operates globally and has extensive experience of complex projects where it also offers aftermarket services.

It was advised on the sale by Oliver Hoffman, Arran Smedley, Thomas Wrigglesworth and Chloe Ellis from Mazars (M&A Deal Advisory & Tax Advisory) and Philip Goldsborough, Victoria Inness and Josh Temple from Knights Leeds Corporate team (Legal).

Hoffman, partner and national head of M&A at Mazars, said: “Clyde is another fantastic example of the demand for strong entrepreneurial businesses in the Yorkshire market.

“The transaction reflects a great success story for the shareholders, and we were thrilled to be able to support them through the process.”

Victoria Inness, partner at Knights, said: “It was a pleasure to work with Steve Cragg, Miles Ratcliffe and the selling shareholders and advise them on this important transaction.

“The growth of the business has been hugely impressive over the past three years and we know from our experience advising in the sector that there are huge opportunities ahead as the energy transition gathers pace.

“We also really enjoyed working with the team at Mazars.”

Steve Cragg, managing director and former shareholder of Clyde, added: “We chose Mazars to represent us for many reasons, one of which was to access their international network.

“In Addtech, they found a buyer that is an excellent fit that will enable further growth and development of the company.”