Catalyst Corporate Finance has advised the shareholders of aerospace components supplier Shimtech Industries Group on its £144 million sale to Auctus Industries.
Shimtech is a specialist supplier of high-performance composite structures, assemblies and precision-engineered details to the global aerospace industry.
It is the largest manufacturer of aerospace shims and laminated shim material in the world and is also a leading producer of thermoset composite laminates and structures.
Under the ownership of Bridgepoint Development Capital (BDC), and led by Shimtech CEO Howard Kimberley, the business has grown, made acquisitions and is poised for further growth.
Following an unsolicited approach by Auctus Industries, Catalyst supported the shareholders to manage and drive negotiations with the buyer.
This included oversight of an extensive due diligence exercise and support concluding a complex, multi-jurisdiction legal and manufacturer approval process.
Auctus Industries completed the transaction with the backing of Inflexion Private Equity, Ares Capital Management and the Shimtech management team.
The outcome delivers an exit for Bridgepoint and what was described as an “excellent return” on its original investment.
Bridgepoint Development Capital Partner Adrian Willetts said: “Shimtech has performed strongly during BDC’s period of ownership, consistently performing in line with its business plan and delivering the key strategic objectives identified at the time of our investment.
“We have enjoyed working with Howard Kimberley and the management team, and would like to thank them for their hard work and achievements over the past four years, and wish them every success in the next phase of Shimtech’s growth.”
Mr Kimberley added: “This transaction marks the start of a new chapter for Shimtech. Catalyst played a crucial role, providing pragmatic advice and valuable guidance to the shareholders, which was a key element in helping to bring a complex transaction to a successful conclusion.”
Andy Currie, managing partner at Catalyst, who led the transaction supported by partner Jeremy Harrison, Emmet Keating and Tow Cowap, said: “It is a privilege to have advised on this high profile transaction. Shimtech is a world-class business led by an exceptional management team. I have no doubt that the business will go from strength-to-strength in the future.”