Azets advises on sale of Wescott Group to Coriant

Wescott Group has joined Coriant’s rising industrial providers platform. The deal was supported by recommendation from Azets, who consulted the sell-side shareholders all through the sale.

With greater than 100 employees throughout the North of England, Wescott Group is a specialist supplier of coatings, rope entry, fireplace safety and asset integrity providers. Servicing shoppers within the UK and quite a few worldwide markets, from its foundations as an industrial coatings and entry providers supplier, Wescott has developed robust experience throughout the renewables, defence, marine, petrochemical and infrastructure sectors.

The transaction sees two extremely regarded specialist companies grow to be half of the Coriant group: Jarrow-based Wescott Industrial Companies, with 30 employees, offering specialist industrial coatings, fireplace safety and industrial upkeep providers, and Hull-based SGS, a 70-strong specialist entry options supplier serving advanced industrial environments.

James Salkeld, managing director at SGS, commented, “SGS has grown right into a well-respected and succesful enterprise, and this transaction marks an thrilling new chapter. Coriant provides a robust platform to construct upon our current strengths whereas unlocking new alternatives throughout a broader shopper base. We’re assured this partnership will drive continued success and ship long-term worth for all stakeholders.”

The acquisition additional strengthens Coriant’s nationwide footprint and technical capabilities throughout essential infrastructure, industrial processing, vitality and defence-related markets, while offering each companies with entry to a bigger platform, enhanced sources and long-term funding help.

Mark Duffy, managing director of the Wescott Group, added, “We’re extremely proud of what the Wescott Group has achieved over time, constructing a robust popularity for high quality and supply throughout our sectors. Partnering with Coriant represents the appropriate strategic step for the enterprise, offering the size, functionality and imaginative and prescient to speed up our progress. I’m assured that this subsequent part will create vital alternatives for our folks and shoppers, and I look ahead to seeing the enterprise proceed to develop as half of the broader group.”

The acquisition of Westcott follows speedy latest progress at Coriant. Coriant was included as an impartial firm in 2013 as a spin-out from Siemens Optical Networks, however is now backed by HIG Capital. With the non-public fairness help, the platform now brings collectively Rainham, Zenith and TEi alongside the newer acquisitions of CVS and SCA to type a household of industrial providers suppliers working underneath their very own recognisable manufacturers. Wescott will equally proceed to function underneath its established model, sustaining the popularity, technical experience, and powerful buyer relationships it has constructed over a few years.

Azets Company Finance suggested the shareholders of Wescott Group on its sale to Coriant. The consultancy additionally suggested on the acquisition of SCA earlier this 12 months.

Lee Humble, UK head of company finance at Azets, famous, “Wescott Industrial Companies and SGS have constructed distinctive reputations inside their respective markets and have established long-standing relationships with prospects working in some of the UK’s most demanding industrial environments. Coriant has quickly emerged as a extremely credible platform throughout the sector. The addition of Wescott Industrial Companies and SGS additional enhances the group’s capabilities and creates thrilling alternatives for purchasers, staff and stakeholders alike. We’re delighted to have supported the shareholders all through this course of and to have secured a transaction that delivers a robust strategic final result for all events.”