Client Overview
Penn White a chemical solutions provider specialising in foam control agents, release agents, high-performance lubricants and surface coatings, set up and grown into a family owned company. The business supplies customers globally across a range of industrial sectors and had grown to generate approximately £16m in turnover at the time of the transaction.
Objectives
Our relationship with Penn White began as a long-term advisory engagement focused on succession planning and the future strategic direction of the business.
As part of these discussions, the shareholders ultimately decided to pursue a sale to a strategic buyer that could support the next stage of the company’s development while allowing the family to realise value from the business they had built.
Our Role
We provided strategic and corporate finance advice throughout the process, working closely with the shareholders to understand their objectives and structure the transaction accordingly.
Our support included:
- Strategic advice on shareholder objectives and succession planning
- Identifying and engaging with potential acquirers
- Supporting negotiations and deal structuring
- Managing financial, commercial and legal due diligence
- Assisting with completion accounts preparation and negotiation
The Outcome
The business was successfully sold to Manali Petrochemicals Ltd, an international chemical group.
Through a competitive sale process, we were able to significantly improve the terms available to the shareholders while delivering a successful exit. The transaction provided Penn White with access to international resources and capabilities to support the continued development of the business.
