Irwin Mitchell Advises On Transaction
High Wycombe based Montrose Holdings Ltd, through its Swedish parent company Bufab, has announced the acquisition of Thunderbolts Group Limited.
Founded in 1977 in Småland, Bufab is an international company with operations in 24 countries and a market leading supplier of components and services to the manufacturing industry worldwide. The head office is located in Värnamo, Sweden, and it has approximately 1,000 employees. Its subsidiary, the Montrose Group, suppliers of industrial stainless steel fasteners, fixings, tools and it works closely with many organisations in their manufacturing and assembly process. Its customers operate in a wide range of industries including aviation, construction and motorsport.
The acquired company, Thunderbolts, is a distributor of fasteners and fixings used in the construction industry, and it is located in Southampton and was founded in 1991. The company has 19 employees and reported net sales in 2016 of £2.9 million.
Jörgen Rosengren, Bufab's CEO, said: "Thunderbolts is recognized as a stable and respected provider of fasteners and other C parts in the region around Southampton, and it will be an excellent complement to Montrose and to our other operations in the UK. We are therefore happy to welcome the Thunderbolts team as a new sister company in the Bufab Group".
Theresa Wittcomb and Langdon Lloyd Thunderbolts' Directors and Owners, added: "Montrose has a strong brand name in the UK market, and Bufab is a recognized international leader in our industry. We look forward to continue growing our business with the entire Thunderbolts team together with our new colleagues".
John Riddick, Corporate partner at Irwin Mitchell in Southampton, advised Montrose Holdings Ltd on the deal.
Expert Opinion“This deal represents the third acquisition for Bufab in the UK past two years and a significant acquisition for the Montrose Group. There are strong synergies between Montrose and Thunderbolts moving forward, giving Thunderbolts the potential to boost the company’s offering and distribution network.” John Riddick - Partner