MHA Chiks advises on Hylomar deal
The corporate finance team at MHA Chiks has advised on the sale of a global sealants and adhesives manufacturer to a leading private equity firm.
Hylomar – a world leader in the manufacture of adhesives and sealants for the automotive market – has been acquired by PHD Equity Partners for an undisclosed sum.
The company, which employs 28 staff at its factory in Wigan, supplies products to many of the major car manufacturers as well as aerospace and industrial clients. Hylomar exports to over 60 countries and has subsidiaries in the US and Germany. Around 70% of its products go to export markets.
Stephen Gregson, corporate finance director at MHA Chiks, led the team that advised the shareholders of Hylomar on the sale to PHD Equity Partners. Rob Dobson of the corporate team at Napthens solicitors provided legal advice to the sellers.
PHD Equity Partners will support the management team as it pursues plans to expand the business in both new and existing markets. The acquisition follows the untimely death last year of one of the major shareholders, Howard Ball, and will allow the retirement of the two remaining shareholders, Mr Ball’s wife Patricia and the chairman, Peter Rowley.
Stephen Gregson said: “Having been able to introduce Hylomar to PHD Equity Partners, it is incredibly pleasing to see this deal through to completion. Hylomar is a profitable business with a strong management team who can now look forward to the next stage of growth with the financial backing and expertise of the team at PHD Equity Partners.”
Established in the 1950s, Hylomar was part of the US industrial group MacDermid Inc until 2001 when it was acquired by Peter Rowley, who introduced Mr and Mrs Ball to help him operate the business.
Hylomar is now renowned globally in the automotive market as a leader in its field in terms of its technical ability and the quality of its adhesive and sealant compounds.