M&A Advisory

Teer Coatings

Adviser to Worcestershire-based advanced coatings specialist, Teer Coatings, on its sale to AIM-listed, Judges Scientific.

The deal

We have advised the shareholders of Worcestershire-based advanced coatings specialist, Teer Coatings, on its sale to AIM-listed, Judges Scientific.

Headquartered in Droitwich, Teer Coatings specialises in applying coatings to industrial equipment and components to protect against wear, corrosion and erosion, with customers in sectors including aerospace, motorsport, automotive, energy, medical and more.

Our team, led by Director Thomas Edwards, Executive Kevin Kong, and Associate Twm Westcott led the process from end-to-end, preparing the business for the market, identifying potential buyers with a good cultural and strategic fit, and managing negotiations.

This included successfully securing necessary the National Security & Investments Act (NSIA) approval for the deal, which was required because of Teer’s work in potentially sensitive areas of the economy.

The deal supports Judges Scientific’s strategy as it continues to pursue both acquisitive and organic growth and will enable Teer to benefit from Judges’ scale and backing as it pursues its own growth strategy.

Thomas Edwards, Director at FRP Corporate Finance, said: “Teer Coatings is a business that has built up a strong reputation for its high-quality coating solutions, so it was no surprise that there was a significant amount of interest once the owners decided to sell.

“Judges Scientific is a great fit for the business and wish both teams all the best for the next stage of their journey.”

Wayne Southall, Director at Teer Coatings, said: “It was important for us to find a buyer that aligned with our culture and that would help to continue the business to grow.

“The support provided by Thomas and the team has been second to none. They were always there to provide us with support and assistance and were by our side to navigate what, at times, was a very complex transaction.”

Additional sell-side advisers were EM Law (legal) and Capital Law (specialist NSIA advice).

Deal summary

Date:

August 2024

Sector:

Industrials & Manufacturing

Deal type:

Selling a business

Deal size:

Undisclosed

Teer Coatings is a business that has built up a strong reputation for its high-quality coating solutions, so it was no surprise that there was a significant amount of interest once the owners decided to sell. Thomas Edwards Corporate Finance

Related team

Thomas Edwards

Thomas Edwards

  • Director
  • Corporate Finance
  • Cardiff

Kevin Kong

Kevin Kong

  • Executive
  • Corporate Finance
  • Cardiff

Twm Westcott

Twm Westcott

  • Associate
  • Corporate Finance
  • Cardiff