Combisafe, Europe’s leading height safety provider, has broadened its range with its first UK acquisition.
Combisafe, Europe’s leading height safety provider, has broadened its range with its first UK acquisition.
The Swedish firm has acquired St Neot’s-based Advanced Scaffold Products (ASP) which designs and markets innovative and added value scaffolding, access and weather protection solutions.
In order to maintain ASP’s recent rapid growth, significant investment will be needed and the ASP shareholders felt that Combisafe, with their established European and growing Global network, represented the ideal parental prospect.
For customers, the new ownership of ASP offers considerable long-term benefits, including financial security, investment in customer services, improved stock availability, and accelerated product development.
Combisafe’s reporting accountant was Cube Partners, led by directors Kay O’Reilly and Gerry Cochran, while Howes Percival provided legal services.
O’Reilly said Cube also played a major role in advising on the tax issues of the deal. “Combisafe were keen to establish a good team of local advisers not only to ensure they would receive expert advice, but also that communication and efficiency were maximised.”
She added that the deal was scheduled to complete in just over a month, a very tight deadline, to ensure both sides could begin integrating their staff and facilities before the start of the summer holiday season.
“Howes Percival and Cube Partners were both interviewed prior to appointment by the Combisafe team,” O’Reilly said. “Combisafe management and the team of advisers worked very well together at all levels, which allowed the tight timescale to be met.”
Howes Percival’s team was led by partner Gerald Couldrake, who said the firm was recommended to Combisafe to work on this, its first UK acquisition.
“It was a very important strategic move for them in the UK market,” he added. “We had to assemble a team very quickly and get the deal done to a very tight deadline. We were fortunate in having a client who is very commercial, and allowed us to negotiate on their behalf where appropriate. The teamwork on the deal was first rate.”
Northampton-based Combisafe has operations across the whole of Scandinavia, in the UK, France, Spain, Germany, Dubai and Australia. They also have ambitious growth plans, which will not be met by organic growth alone.
