Ardenton acquires Corbetts the Galvanizers

Kenny Wastell
10 April 2017

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Canadian GP Ardenton Capital has acquired UK-based steel galvanising company Corbetts the Galvanizers.

The company's managing director Tim Ward and financial director Sophie Boothroyd also invested as part of the deal, and will continue to lead the business.

The deal is Ardenton's first investment in the UK, according to a statement issued by the GP. The firm typically invests in companies with EBITDA of $3-10m. Ardenton also stated it is looking to begin fundraising in the UK during 2017.

Under its new ownership model, Corbetts will invest in the expansion of its Midlands operations.

Debt
Yorkshire Bank's Midlands corporate and structured finance team provided a senior debt package and working capital facilities to support the transaction.

Company
Founded in 1809, Telford-headquartered Corbetts provides hot-dip galvanising services to the manufacturing sector. The galvanising process involves coating steel with molten zinc, creating zinc oxide, which helps prevent corrosion.

People
Ardenton Capital - Michael Bradbury; Iain Marlow (directors).

Advisers
Equity - BDO, Chris Heatlie, Rob Dawes (financial due diligence); Addleshaw Goddard, Paul Medlicott, Katie Simpson, Becky Dove, Richard Oman, Jessica Burgess (legal).