Manufacturer anticipates fresh overseas opportunities following acquisition
Techbelt, an Elland-based manufacturer and distributor of conveyor belts and tapes serving both domestic and international markets, has been acquired.
It has been bought by Decisive Dividend Corporation, a Canada-based acquisition-oriented company focused on opportunities in manufacturing.
Simon Sparkes, managing director of Techbelt, said: “Myself and the whole Techbelt team are thrilled to be part of the DDC family.
“Having spent the last 17 years building a business is was important that we find the right partner to continue our growth and take us to the next step.
“I’m passionate about our employees, customers and suppliers. We wanted to find a new owner with aligning values, who will allow us to continue with our own identity whilst providing us with the support and access to markets we have identified as growth opportunities.
“I look forward to the opportunities that DDC will provide us in North America. A deeper and more localised access to this market has been a personal aspiration of mine for a number of years and I’m excited about what the future looks like for Techbelt.”
Jeff Schellenberg, chief executive officer of Decisive, said: “We are thrilled to add Techbelt, its leadership team, employees, and high-margin wear-part products to our growing portfolio of businesses.
“Having the opportunity to add another business that sells wear-parts is a great fit for our dividend paying model and aligns with our strategy of investing in industry verticals we have previously invested in.
“The customers these wear-parts are sold to operate in the food and beverage, packaging, textiles, agriculture, and fast-moving consumer goods industries, with locations in the UK, Europe, Asia, Oceania, North and South America and Africa, further diversifying our cash flow profile and expanding our non-North American revenue base.
“We are pleased to welcome one of the vendors, Simon Sparkes, to our leadership group.
“Simon has committed to run the business for a minimum of three years, and the continuity his leadership provides will help maintain the trajectory of growth the business has been on, which is a critical piece of this deal to Decisive.”
The deal was facilitated by Heligan Corporate Finance, led by Simon Heath, Alex Neale, and Azam Iqbal. Neale added: “It has been a rewarding experience advising Techbelt’s shareholders on this cross-border deal.
“The shareholders have demonstrated remarkable stewardship of the company since its founding over 20 years ago, establishing Techbelt as a renowned player in the marketplace and an attractive asset for international acquirers.
“We are confident that Techbelt will thrive under DDC’s ownership.”
Legal counsel for Techbelt was provided by Stephen Newman and Emma Spragg of Ramsdens. DDC was supported by Higgs, MLT Aikins (legal), and BDO Canada (financial and tax due diligence).
