Pictured: Malcolm Cook
A team of Midlands advisors recently advised specialist ruminant
nutrition supplement manufacturer Rumenco on its acquisition of
Net-Tex Industries Limited.
Birmingham-based PKF partner Malcolm Cook and Geldards'
Nottingham based corporate partner Hugh Strickland handled the
acquisition. Financing was provided by Lloyds Bank Corporate
Markets fronted by relationship director John Clay.
Burton-on-Trent based Rumenco has been supplying livestock
farmers in with feed supplements, minerals and nutritional products
for over 40 years.
Formed in 1983 Net-Tex Industries Limited supplies a
comprehensive range of products to the veterinary and agricultural
industry. From its base in Kent the company provides nutrition and
animal husbandry equipment products to over 40 countries.
Following the deal, Rumenco and Net-Tex Industries Limited will
continue as independent businesses with both companies developing
their services and respective product ranges for the agricultural
merchant and distribution trade.
Commenting on the deal, Rumenco chairman, Frank Heap, said
"There is a very good level of strategic fit between the two
companies. Both are successful manufacturers of different but
complementary ruminant product ranges. In addition, Net-Tex
is active in equine and pet markets."
Malcolm Cook of PKF said: "The deal makes excellent strategic
sense for both parties. PKF and Geldards developed a close working
relationship with Rumenco's management team in order to structure a
deal that provides the combined group with a strong platform for
continued expansion in the future. The transaction signals an
impressive start to the New Year for PKF's corporate finance team
in the Midlands and follows a very strong 2011."
Geldards partner, Hugh Strickland, who advised on the deal,
commented: "Rumenco has achieved outstanding growth in recent
year's thanks partly to its focused export strategy. Net-Tex is a
great fit with Rumenco's existing portfolio and its strong customer
base will further strengthen its foothold in the market."
For more information about PKF, please visit their website here:
www.pkf.co.uk