Wilcox, one of the UK’s leading manufacturers of aluminium bodies for rigid and tipping trailers, has been acquired by Total Vehicle Solutions Group (TVS). Wilcox operates out of a 43,056 sq. ft factory based in Market Deeping, Peterborough, and will continue to be led by Vito Ronzano, and Chris Bartlett who have owned and developed Wilcox since 2000.
TVS is owned by Elaghmore (a private equity firm) which consists of three of the UK’s leading specialist manufacturing firms that deliver solutions for the commercial and industrial vehicle industry, including SB Components, Priden Engineering and McPhee Mixers and generates an annualized revenue of £45 million.
Alastair Gunn with Ollie Flowers advised Chris and Vito in relation to the legal aspects of the transaction working alongside Grant Thornton’s Cambridge Corporate Finance team.
Vito Ronzano, shareholder and MD commented: “This is a significant milestone for Wilcox and we are excited to be joining TVS Group who can take our growth to the next level. We look forward to offering our clients even more services and products and pooling expertise and resources with other TVS Group companies. Chris Bartlett and I would like to thank the whole team at Wilcox for their continued hard work and dedication, especially over the last year, which has seen has us continue to deliver for customers to the highest standard, despite the challenges of the pandemic.”
Alastair Gunn, Greenwoods Partner, commented: “It is always a privilege to advise owner managers in relation to transactions like this. The deal has taken the business into its next exciting chapter – a rewarding outcome for the hard work that Vito and Chris have put in over so many years. I am delighted for them.”
Doug Bentley, Corporate Finance Director, commented: “This is a highly strategic transaction for both parties, which presents significant opportunities for growth. We are thrilled to have had the opportunity to advise the business as it enters the next stage of its development.”
This transaction is a great example of the strength of our corporate & commercial team which is complemented by our expertise in areas such as commercial property, employment, pensions, health & safety and intellectual property which ensures you are supported across all elements of a transaction. We make it personal; we work to understand and help you achieve your objectives. And the earlier you get us involved, the more value we can add.
If you’re considering a transaction, we can help you to:
- understand what the process will involve
- structure the transaction strategically and effectively
- document heads of terms to make sure that everyone involved is on the same page
- scope and manage the due diligence process
- negotiate the transactional documentation
- maintain the momentum with active transaction management.
Even if your project is a year or two down the line, a conversation now has the potential to add significant value – contact Alastair Gunn to discuss your plans – the earlier the better.