Tue, 17 Mar 2015 | BUSINESS SALE
The sale of a refrigerated display equipment manufacturer has been completed by a corporate finance firm.
Manor Concepts Limited, based in Bedfordshire, has been acquired by Arneg S.p.A, an Italian retail equipment firm that operates at a global level. The sale was facilitated by Northamptonshire-based corporate finance specialists Watersheds.
Manor Concepts was originally founded in 1996 by Neville Ball and David Winstanley and now has an estimated turnover of £15 million. Arneg operates 20 factories and has offices in 25 countries worldwide.
Watersheds completed the sale in under nine months after detailed negotiations, matching the two firms on shared characteristics.
Watersheds director Richard Buzzoni said: “The strategic fit of Manor and Arneg was clear from the start. While selling to large overseas buyers can be complex and challenging, it can offer a near perfect result for the shareholders, the company and the staff. I am confident that the acquisition by Arneg is just the start of an even greater future for Manor Concepts and its people.”
Manor Concepts' managing director Michael Tucker added that Watersheds provided key guidance and support throughout the sale process so that the firm could continue trading while a sale was successfully negotiated.
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