Warwickshire-based distributor Techsil has acquired another West Midland firm in a deal supported by Birmingham-based M3 Corporate Finance.
Techsil, which supplies adhesives, sealants and other materials to the industrial market, has bought Tamworth-based glue gun and adhesive supplier Fospat.
Techsil managing director Paul Hughes said: “I want to build on Fospat’s strong reputation for quality and excellence and use our sales and marketing expertise to ensure the company continues to grow and flourish.
“There are opportunities to broaden the offering both geographically and by providing further services to the loyal customer base.”
Lead adviser M3 Corporate Finance assisted with negotiations, advised on deal structure, financing and project-managed the deal to its successful conclusion.
Matt Oliver of M3 Corporate Finance said: “We are delighted to have helped Paul Hughes buy this successful and well respected company.
“His ideas for further business development, together with Techsil’s expertise and energy, will undoubtedly see Fospat build on its successful base.”