Tradebe swoops for solvent specialist
YORKSHIRE firm Solvents with Safety (SWS) has been acquired by one of the largest specialist hazardous waste management, treatment and disposal companies in the UK.
SWS, based in Harworth, Doncaster has developed into one of the UK’s leading suppliers of packaged virgin and recovered solvents to the automotive refinishing market, both in the UK and overseas.
It was founded in the early 1980s and under the ownership of Keith Wilson, and offers solvent sales through to blending and waste collection.
Annual turnover is around £9m and the business employs 35 staff.
Tradebe holds also a leading position in Spain and the US, and has subsidiaries in France and Brazil. The company operates more than 72 treatment and recycling facilities.
In 2013 total revenues were around €400m and employs more than 2,000 people.
David Forrest, supported by John Longstaff and David Bellamy, from BHP Corporate Finance acted as lead advisor to the vendors.
Matt Ainsworth and Michael Hall from the Sheffield office of law firm Irwin Mitchell provided legal advice.
Keith Wilson, chairman of SWS, said: “SWS’ success has been built on a value added product offering and outstanding customer service overseen by an excellent and committed management team led by managing director, Brendan Pope. I believe we have found the perfect home for the business to continue its progress as part of the Tradebe group.”
David Forrest, partner at BHP Corporate Finance, added: “We are delighted to have had the opportunity to work with SWS’ shareholders to find the right strategic partner for the business. As we expected for a high quality business like Solvents, we had a significant amount of interest. We are pleased to have agreed a deal with Tradebe who emerged as the outstanding strategic partner. The two business fit together perfectly and I have no doubt that under its new ownership, SWS will continue to go from strength to strength. This deal is further evidence of how Yorkshire’s niche businesses are capitalising on the growing opportunities afforded by international acquirors looking to secure quality UK assets.”
Matt Ainsworth, partner at Irwin Mitchell, added: “SWS is yet another example of an outstanding South Yorkshire business which is attracting investment by blue-chip multinational organisations. We look forward to seeing the continued success and growth of the business under the ownership of Tradebe over the new few years.”
