NorthEdge invests £25.5m in Fine Industries

The fresh funding will be used to increase capacity and came from NorthEdge's debut fund, which closed on £225m earlier this year.

Debt
Debt facilities were provided by HSBC and Yorkshire Bank.

Company
Fine Industries manufactures fine chemicals for the agriculture, pharmaceutical and speciality chemicals markets. Its clients include global blue chip companies. The company's products are exported primarily to Switzerland, Germany, the US, Brazil and Ireland.

The company was established in 1977 and employs 270 people in its Seal Sands chemical plant in Middlesbrough. Fine Industries reported a turnover of £40m for the year ending 30 September 2013.

The business underwent a management buyout from previous parent company Degussa in 2008.

People
The transaction saw NorthEdge backing managing director Crain Morgan. Brian Davidson joins the company as non-executive director. The deal was led by NorthEdge partner Ray Stenton, director James Hall and investment manager Tom Rowley. Stenton and Hall will both join the board of Fine Industries as non-executive directors.

Advisers
Equity – KPMG, Alex Hartley (Financial due diligence); Addleshaw Goddard, Yunus Seedat (Legal).
Company – PwC, Paul Mankin (Financial due diligence); Bond Dickinson, Nigel Williams (Legal).

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• Topics
• Buyouts
• UK / Ireland
• Industrials
• NorthEdge Capital