Pictured above: (l-r) Andy Briars, Paul Hughes (both Techsil), Matt Oliver (M3 Corporate Finance)

Warwickshire based distributor Techsil Limited broadened its product offering and customer reach with the acquisition of Fospat Industrial Limited, supported by Birmingham based, M3 Corporate Finance.

Established in 1989, Techsil supplies RTV silicone, adhesives, sealants, encapsulants, conformal coatings, casting and mould making materials to a varied industrial market. It has a loyal and growing customer base trading on its strong reputation in customer care and service, working closely with customers on solutions utilising its materials technology and process improvement procedures.

Fospat has been established for over 30 years and is based in Tamworth.  It supplies glue guns and adhesives for use across all markets - ranging from specialised industrial products to light duty hobby and craft solutions, specialising in hot melt glue sticks, slugs and bulk adhesives, pressure sensitive, coloured and glitter hot melts, foundry thermoplastic and UV adhesives.  

Paul Hughes, Managing Director of Techsil, said: "I want to build on Fospat's strong reputation for quality and excellence and use our sales and marketing expertise to ensure the company continues to grow and flourish.  There are opportunities to broaden the offering both geographically and by providing further services to the loyal customer base."

Lead advisers M3 Corporate Finance, assisted with negotiations, advised on deal structure, financing and project managed the deal to successful conclusion.

Matt Oliver, of M3 Corporate Finance, said: "We are delighted to have helped Paul Hughes buy this successful and well respected company. His ideas for further business development, together with Techsil's expertise and energy, will undoubtedly see Fospat build on its successful base."