HD Sharman

One of the UK’s leading suppliers of metal roof refurbishment systems has been acquired by a multinational building compliance firm, in a deal supported by our Corporate Finance team.

HD Sharman, headquartered in Chapel-en-le-Frith, Derbyshire, helps organisations extend the life of their buildings through an engineering-led approach to roof maintenance and refurbishment. Founded in 1970 and employing almost 100 people, the business’ direct clients include roofing contractors, specifiers and property managers. The company has been backed by Bridgehill Partners since 2013.

It has been acquired by PTSG, the UK’s leading provider of specialist services to the construction and facilities management sectors, that employs over 3,000 people and is backed by private equity firm Warburg Pincus and Macquarie Group.

Our Corporate Finance team, led by partner Dan Salt and supported by Associate Director Will Ashley and Assistant Manager Jon Kirby, acted as the lead sell-side advisers to HD Sharman on the deal. The team conveyed the company’s market-leading position to potential buyers before overseeing negotiations with PTSG once it emerged as the preferred bidder, managing the deal through to completion.

The deal will allow HD Sharman to take advantage of PTSG’s extensive network and resources to further grow the business, while PTSG will now be able to expand its building access and compliance offering with the business’ roof refurbishment services.

Dan Salt, Partner at FRP Corporate Finance, said: “Traditional sectors like industrials are continuing to attract high levels of demand for their strongest assets. This is especially true where there are also attractive secondary considerations, which in the case of HD Sharman was its track-record of supporting other businesses to operate more sustainably.

“So when interested buyers like PTSG come along with a clear plan for growth that is supported by their investors, it can often be a perfect match. This deal marks an exciting time for all parties, and I look forward to the combined business reaping the benefits of this deal in the years to come.”

Leigh Daveran, Managing Director at HD Sharman, added: “Joining PTSG marks an exciting new chapter for our business. We are proud of the heritage and reputation we have built and we believe this partnership will allow us to go even further – enhancing our product and service offer, reaching new markets and combining forces with likeminded specialists at NSS and across the Group. We look forward to working together to deliver even greater value for our customers.

Mark de Rozarieux, Director, HD Sharman, commented: “The assistance provided by Dan and the team at FRP Corporate Finance on this deal was second to none. In PTSG, they’ve helped us find an ideal partner and the advice and support they were able to share at all stages of this process played a key part in allowing us to get this over the line.”

Jakob Moeller-Jensen, Director, Bridgehill Partners, said, “From our first dealings with the founders of HD Sharman, we saw the quality of their products and services and the potential for their future growth. This journey has been marked by outstanding progress and development, and we are delighted to have been a part of it. We wish the team ongoing success and are confident that they have found a strong partner in PTSG.”