Hazlewoods Corporate Finance team is delighted to have advised on the sale of a specialist architectural powder coating business whose facades adorn some of the most iconic buildings in the world. Powdertech (Corby) Ltd has worked on prestigious structures including The Shard, the £14.7 billion Riyadh Metro (the biggest urban rail project outside China), and the 30m tall and 390m long Silverstone Flying Wing, created during the redevelopment of the home of British F1 racing.
Hazlewoods advised on the sale of the Northamptonshire-based business to private equity firm Cordovan Capital, whose headquarters are in Belfast.
Founder, Martyn Green, has retired from Powdertech (Corby) Ltd, but fellow directors Giles Ashmead and Richard Besant, are excited to continue to grow the business.
Powdertech (Corby) Ltd has been operating for more than three decades and has always been a pioneering business. Unlike other powder coating businesses, the company developed its own range of innovative durable, weather-resistant finishes, which protect the buildings they decorate.
Cordovan Partner, Daniel Anderson, said: “This acquisition sees us support a highly experienced and industry-recognised management team in their ambitions to lead the next chapter of Powdertech’s growth.
“This is a successful, innovative surface technology business whose work can be seen on many iconic buildings. We are delighted to welcome it into the Cordovan portfolio.”
Exiting Director, Martyn Green, said: “I have every confidence the company will continue to go from strength to strength and wish the new owners every success in the coming years. Also, the vendors would like to thank the whole Hazlewoods team for their boundless enthusiasm and support throughout the sale process.”
Corporate Finance Director, Rich Grover, said: “It was a pleasure working with Martyn, Giles and Richard. Powdertech has an exciting future with Cordovan’s investment, and I would like to wish them all the very best.”
Hazlewoods award-winning, expert-led Corporate Finance team completed 170 deals in 2021, with a combined value of more than £1 billion.
If you are considering selling your company, buying a business or are looking for ways to finance your growth plans and would like to find out more about the process, please contact Rich Grover at rich.grover@hazlewoods.co.uk, or call 01242 680000.
