Corporate Finance

Advisers to Condale Plastics on sale to Lifeco

The FRP team secured a buyer for the £18 million-turnover business

Background

Based in West Sussex, Condale Plastics was established in 1969, and is a specialist manufacturer of bespoke plastic extrusions. They manufacture high-quality rigid plastic profiles and tubes, flexible plastic profiles and tubes and plastic co and tri extrusions. The extrusion operation includes a complete in-house tool production and maintenance service. Condale Plastics’ extensive experience in plastic extrusion manufacturing, commitment to quality and outstanding customer care has awarded them many repeat contracts and recommendations.

Action

Condale Plastics appointed FRP Corporate Finance to support the transaction because of the team’s expertise, bandwidth and the ability to assist large privately owned companies with their exit process. The FRP team secured a buyer for the £18 million turnover business. It was important to find a buyer for the right
price and the right terms for the founding directors, and Lifco was the ultimate buyer who ticked all the boxes.

Outcome

Although Condale Plastic have been successful for over 50 years, the transaction enabled Lifco to facilitate further capital investment and a growth in sales. The firm will continue to operate from its 6,000 sq.m manufacturing facility, which features 33 extrusion lines including a separate unit for the production of medical grade extrusions. Condale’s strong team of 80 will continue to support its diverse range of customers in sectors ranging from retail and horticulture to construction and
transport.

Selling a home-grown business will always be a difficult decision but FRP Corporate Finance ensured we found a suitable buyer and delivered a seamless transaction. Condale Plastics David Dalton, Exiting Chairman of Condale Plastics

Related team

Adrian Alexander

Adrian Alexander

  • Partner
  • Corporate Finance
  • Brighton

Nick Lovelock

Nick Lovelock

  • Associate Director
  • Corporate Finance
  • Brighton