Endless supports James Briggs MBO

Management and Endless acquired the business from ITW, a Fortune 200 global manufacturing business based in the US. The investment, which comes from Endless's third fund, will be used to fund sales, marketing, infrastructure, manufacturing equipment and IT systems.

As part of the deal, former Optare boss Jim Sumner will join the company as executive chairman.

Company
James Briggs manufactures paints, lubricants, cleaning fluids and polishes for the automotive, industrial and hygiene sectors. Brands include Hycote, Nilco, Autotek, Add-It and Antiquax.

The company employs nearly 200 people across its two manufacturing sites in Royton and Chadderton, near Oldham. James Briggs was established in 1830. Revenues currently ammount to just less than £50m.

People
Incoming executive chairman Jim Sumner joins existing managing director Mark Lyth and finance director Simon Tuley. Mathew Deering, investment director at Endless, led the deal.

Advisers
Equity – Squire Sanders, Giles Chesher (Legal); PwC, Simon Viner, Stephen Woodhouse (Tax); Bridge Insurance (Insurance due diligence).
Management – EOS Law, Simon Woolley (Legal).
Vendor – KPMG, Jonathan Boyers (Corporate finance); Steptoe & Johnson, Farzana Rao (Legal).

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• Topics
• Buyouts
• Industrials
• UK / Ireland
• Endless