The deal follows Endless’ recent investment of £20 million in the outsourcing business Liberata to support the company’s management buy-out.
GE Capital provided an undisclosed sum to support the acquisition and provide working capital for the company. The acquisition is Endless’ twelfth deal from the firm’s Fund II and its sixth live investment in the Midlands.
Adrian Jones, partner at Gambit Corporate Finance who advised on the acquisition, comments: ‘This deal demonstrates that manufacturing continues to be at the core of the UK’s economic recovery, and here in the Midlands we continue to lead the way in the UK’s manufacturing capability.’
West Midlands-based Niagara Lasalle produces steel bars for customers in the automotive and engineering sectors in Europe and the US. The company employs 300 staff across its six processing and distribution operations in the UK. In 2010 Niagara Lasalle declared a turnover of around £60 million.
The acquisition includes a number of properties operated by the company in the UK, as well as a supply agreement to ensure enhanced trading with its former parent company in the USA.