Plastic manufacturer sold to Swedish group
Condale, which has been manufacturing bespoke plastic extrusion products for more than 50 years, will benefit from becoming part of Lifco’s contract marketing division. The Swedish group owns a stable of more than 200 companies across Europe.
Having established the £18 million-turnover business in 1969, the sale includes a full exit for Condale’s Founding Directors.
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 80-strong team will continue to support its diverse range of customers in sectors ranging from retail and horticulture to construction and transport.
David Dalton, exiting Chairman of Condale Plastics, said: “The past 50 years have been an extremely rewarding time as I’ve watched Condale flourish and grow to become the business it is today. I’d like to thank our customers for their ongoing support as we continue to work with them to create bespoke products that help them grow their own businesses. Selling a home-grown business will always be a difficult decision but both FRP Corporate Finance and Gunnercooke have ensured we found a suitable buyer and delivered a seamless transition to the benefit of all involved.”
Adrian Alexander, Partner at FRP Corporate Finance, added: “David and the team at Condale have created an outstanding business which boasts the status of being one of the UK’s oldest and largest plastic extrusion manufacturers. We’re increasingly seeing international buyers looking to invest in high-quality British businesses, and this deal will help expand the reach of locally developed innovation. We wish all parties the very best for the future.”
Matthew Searle, Corporate Partner at Gunnercooke, said: “The team at Condale still has limitless potential and it’s clear that it will continue to thrive, supported by the shared culture and resources offered by Lifco. I look forward to seeing the business accelerate its growth in the future.”
Selling a business
We’re increasingly seeing international buyers looking to invest in high-quality British businesses, and this deal will help expand the reach of locally developed innovation.Adrian Alexander Corporate Finance