THE WHITTAN GROUP SIGNS AGREEMENT TO ACQUIRE MASONDIXIE LIMITED, PARENT COMPANY OF LION STEEL EQUIPMENT LIMITED, FROM ITS MANAGEMENT TEAM
Whittan Intermediate Limited (“Whittan”), a wholly-owned subsidiary of the Whittan Group, is pleased to announce that it has signed an agreement to acquire Masondixie Limited, the parent company of Lion Steel Equipment Limited (“Lion”), from its management team.
Whittan, backed by funds advised by Bregal Capital LLP (“Bregal”), is a UK-based, pan-European storage equipment manufacturing group. Whittan manufactures, sells and distributes three core products: pallet racking, shelving and lockers, to a wide range of customers. It trades under a number of well-established brands including Link 51, Apex, Polypal, Moresecure and Permar. It has manufacturing facilities in the UK and Spain and its own sales and distribution operations across Europe.
Lion is a UK-based manufacturer of lockers and cabinets, together with a limited range of shelving, and sells under the Probe brand. It is a trade-only supplier, with a distributor network both in the UK and in export markets. Its product range is highly complementary to that of Whittan’s, with a particular specialisation in customised metal lockers as well as lockers made with other materials, including laminates, wood and plastic, for specialist applications. It has two manufacturing facilities located in Hyde, Manchester and Saltney, Chester.
Andrew Butler, Chairman of Whittan, added: “We are looking forward to welcoming the Lion team to the Whittan group, and capitalising on the many growth opportunities arising from broadening the product range and improving the service capabilities of the combined group”.
Richard Williams, Director of Lion further commented: “Lion has a long history in the storage solutions trade-only sector. As part of Whittan we can further improve our overall product and service offering to independent distributors and contractors, both in the UK and overseas”.
The completion of the transaction remains subject to competition clearance.
Andrew Butler, Chairman
Lion Steel Equipment Limited
Richard Williams, Director
15th July 2016