YFM exits Ferrabyrne in trade sale
Small-cap sponsor YFM has exited Ferrabyrne, a UK-based specialist provider of rubber-to-metal bonded components and rail suspension systems, in a sale to Dellner Polymer Solutions, according to a press release.
The sale is the fourth exit from YFM Equity Partners Buyout Fund I, which held its final close in May 2017 at GBP 45m, and focuses on investing up to GBP 10m in UK-based companies. Other exits from the fund include telecommunication consultancy 4net Technologies; rail infrastructure planning and installation services provider Collaborative Project Management Services; and Indigo Telecom Group, a provider of installation and maintenance services to the telecommunication sector.
YFM invested in Ferrabyrne in 2016 and under its ownership strengthened the company’s management team, established relationships with European manufacturers, and invested in systems, new technologies and processes. Ferrabyrne also expanded into India and China which doubled turnover
Dellner Polymer Solution, a subsidiary of Sweden-based Dellner Group, has bought Ferrabyrne with a view to expand in the UK and deepen its product offering, as well as increase its opportunities in markets such as Asia, according to the release. Ferrabyrne will continue to operate from its manufacturing facility.
Company
Littlehampton-based Ferrabyrne was founded in 1970 through the merger of Ferring Rubber & Plastics with Byrne Moulding & Engineering. It provides a range of suspension systems and rubber to metal components including bushes, bearings, and couplings globally. Its customers include European rail original equipment manufacturers for new builds including UK mainline networks, Alstom, Hitachi, Siemens, Skoda. Service clients include MTRC in Hong Kong and the London Underground.
Ferrabyrne generated a turnover of GBP 9.6m for the year ending June 2021, and forecasts generating GBP 10.6m for the year ending June 2022, according to a spokesperson for YFM.
Ferrabyrne employs 69 staff.
People
YFM –James Savage (partner).
Dellner Polymer Solutions – Mikael Petersson (CEO of Dellner Polymer & Glass Solutions), Marcus Aberg (Dellner Group CEO)
Ferrabyrne – Ken Horton (CEO).
Adviser
Vendor – Transcend Corporate (corporate finance); Gateley (legal).
[Editor's note: The article has been updated to include Ferrabyrne's FY21 and FY22 earnings.]
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