Sentio Partners advises on the acquisition of Paralloy from Doncasters Group

Sentio Partners has advised on the acquisition of the Centrifugal Castings Division of Doncaster’s Group for an undisclosed sum. The division comprises of Teesside based Paralloy and South Yorkshire based FVC both providing specialist engineered products that service domestic and international markets in the petrochemicals and aerospace industries respectively.

Nimbus, the hands-on investor focusing on non-core carve outs and companies requiring operational and strategic enhancement, has backed the senior management team, led by Chief Executive Robert McGowan, to acquire the business and will use its pan European footprint to support Paralloy and FVC’s growth and export plans. Investment Director at Nimbus, David Keenan, who led the deal commented: “Paralloy represents a great example of UK manufacturing despite these uncertain economic times. The combination of a strong management team, market leading products and stated growth ambition provides the perfect setting for Nimbus to invest.”

Paralloy Chief Executive Robert McGowan commented “This is good news for our business, We are delighted to be working with Nimbus, we believe their background and expertise complements our strong management team and we have a partner that understands us, our business and is excited about our future. We continue to focus our efforts on building on the Great British Brands of Paralloy and Firth Vickers Centrispinning (FVC) with renewed vigor, investment and a commitment to deliver best in class products and services to our customers worldwide. This transaction will enable us to uniquely position Paralloy and FVC for more growth, expanding our portfolio, capabilities and market reach.”

Will Arnold, Andrew Barlow and Andy Miller from Sentio Partners acted as the lead corporate finance advisers and introduced the transaction to Nimbus and Arbuthnot Commercial Asset Based Lending.

Addleshaw Goddard, Eversheds Sutherland, Squire Patton Boggs, Gateley plc, Freeths & Ward Hadaway provided legal advice to various parties and Santander UK plc provided additional funding & banking support. BDO provided tax structuring and diligence advice.

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