Sentio Partners has advised Austrian group, Miba AG, on the sale of Teer Coatings Limited (“Teer Coatings”), to the existing management team. Following a group-wide strategic review Miba chose to focus its operations on high volume automotive products and therefore the business, based in Droitwich, was considered non-core to Miba’s wider strategy.
Teer Coatings is a leading manufacturer of Physical Vapour Deposition (“PVD”) coating equipment and provider of patented and specialist PVD coating services with a market leading reputation for technological expertise.
The company has an outstanding blue-chip worldwide customer base with a focus on international currency mints and research institutions for its PVD coating equipment and motorsport and industrial customers for its PVD coating services.
Miba now leaves the business with significant opportunity and a clear direction for the future.
Miba were advised by Rory Wade and Matt Tollefson at Sentio, with David Armitage and Tamanna Kier at Gateley plc providing legal advice. Debt funding to the management team was provided by ThinCats.
