FRP secures multi-million-pound sale of AKW Limited
Tuesday March 20, 2018
Partners from FRP support on the deal
A team of Manchester advisers have secured the sale of AKW Limited (“the Company”), a leading manufacturer of accessible bathroom, kitchen and daily living products for people with reduced mobility, in a multi-million-pound deal.
The Company, which employs 270 people and is based in Droitwich Spa and Braddon on the Isle of Man, was acquired by funds managed by PennantPark Investment Advisers, LLC.
Anthony Collier and Steve Williams, Partners in our Manchester office, advised on the sale, with legal advice from Tim Taylor at Addleshaw Goddard.
AKW Limited was advised by Susan Kelly of Squire Patton Boggs.
Commenting on the deal, Anthony said: “AKW Limited is a market-leading business and we are confident that the company can be taken forward and fulfil its potential under PennantPark’s ownership.”
Since it was founded in 1982, AKW’s mission has been to support independent living with superior quality products that are practical, safe, and beautifully designed. The Company’s mission will remain unchanged and its headquarters will remain in Braddan, with additional significant presence in Droitwich Spa.
We are confident that the company can be taken forward and fulfil its potential.Anthony Collier Restructuring Advisory