Completion of two significant Midlands transactions is further evidence of burgeoning M&A confidence, according to international accountancy firm Mazars.
Nick Johnson, Corporate Finance Partner, said the deals were indicative of “an exciting pipeline of deal opportunities and improving confidence that now is a good time to being doing deals for both buyers and sellers”.
Bullwell Trailer Solutions, of Lichfield, was bought by the UK subsidiary of Ryder Inc., a leading global commercial vehicle leasing company while Nottingham-based Badgemaster acquired Scottish business Akorn Badge Company.
Bullwell provides mobile trailer repair and maintenance services from its central base in Staffordshire. Ryder is one of the UK’s leading independent commercial vehicle rental, contract hire, maintenance and dedicated delivery solutions provider and operates one of the largest truck and trailer fleets in the UK.
And there was high praise from Bullwell for the way in which Mazars handled the process for them.
Kevin Tomlinson, Bullwell’s finance director, said: “The corporate finance team from Mazars were key to the successful completion of the transaction, showing dedication, persistence and commitment. They guided us through the challenges encountered, always helping to find solutions.
“We greatly appreciate their efforts, professionalism and what they have helped us achieve.”
Mr Johnson noted: “The acquisition of Bullwell enables Ryder to build on its strong market proposition in trailers and to enhance its onsite maintenance services to all truck and trailer customers.
“Every deal has issues to overcome and a committed and focused approach from experienced CF advisers is vital to ensure deals get completed in a way that works for everyone.”
Badgemaster, which has a warrant from the royal household, manufactures permanent staff, engraved employee name, ID and personalised corporate identity badges.
It has now taken over North Lanarkshire counterpart Akorn Badge Company.
Badgemaster, formed in 1992, said the deal would allow it to be even more competitive, boost its buying power and increase its total number of accounts to 27,000.
Managing director John Bancroft said: “It has always been our vision to be not just a name badge company, but ‘the’ name badge company, and I am proud that we have achieved that. We have many millions of people now going to work every day wearing their Badgemaster custom-made name badges and we are now processing over 1,000 orders a day.
“In combining Akorn with Badgemaster we have a marriage made in heaven that will bring significant and long-term benefits to both Akorn and Badgemaster’s extensive combined customer base.”
Akorn Badge Company’s factory is being transferred to Nottingham as part of the transaction.
Advisers included Paul Bevan and Pete Wood of Mazars in the East Midlands.
Mr Bevan said: “This was a deal which had compelling synergy.
“We were very pleased to have played a part in helping Badgemaster take its business to the next level.
“Mergers and acquisitions are very much part of today’s agenda and we are heading towards an excellent year.
