Browne Jacobson has advised Yorkshire Bank on a deal that has seen a 157 year old Shropshire based galvanizing business acquired by Manchester based Ardenton Capital and management.
Ardenton Capital, a Canadian private equity firm, has acquired Telford based Corbetts the Galvanizers in a deal that will also see the company’s managing director Tim Ward and finance director Sophie Boothroyd also invest in the business.
Ardenton Capital was established in 2010 and looks to make long term investments in mid market businesses in Canada, United States and United Kingdom. The private equity house has its headquarters in Vancouver and opened its first UK office in Manchester in 2017 with the aim of growing its UK portfolio.
Corbetts the Galvanizers was founded in 1860 by Samuel Corbett and specialises in galvanizing services and metal treatment solutions for a domestic and international client base.
Shaun McCabe, banking partner at Browne Jacobson, advised Ian Howey and Ian Mansell of Yorkshire Bank’s Midlands based Corporate and Structured Finance Team who provided senior debt and working capital facilities on the deal.
Shaun McCabe said:
“We were delighted to provide Yorkshire Bank with legal advice on this deal which will allow the business to realise its future growth plans and build on its reputation as one of the leading galvanizing operations in the country.
“It is fantastic to be able to extend our transactional expertise across the North West region with a key deal such as this.”
The national law firm which operates a Manchester base has ambitious plans to expand its service offering in the North West with an office accommodation move to No.1 Spinningfields towards the end of the year. The move will see the firm quadruple its existing office accommodation and allow it to further grow its public and private sector client base.