The Birmingham office of Clearwater Corporate Finance has advised on a cross-border deal which saw a Danish cleaning supplies firm sold to global outsourcing group Bunzl.
Clearwater collaborated with a firm in Denmark through its membership of the international mergers and acquisitions organisation IMAP on the sale of Clean Care.
The firm, whose revenue last year totalled £7 million, is active in the supply of cleaning and hygiene consumable products and equipment to users such as contract cleaners and other industrial and institutional customers.
Clearwater partner Andy Moore said: “Having been aware of Bunzl’s strong appetite for expansion in Scandinavia and its existing Danish operation, we saw Clean Care as a good fit for the business.
“This acquisition is a credit to the hard work of both management teams, as well as cross-border collaboration on the part of our IMAP colleagues in Denmark.”
This is the second cross-border deal that Clearwater has completed in recent months, following the sale of Dublin-based power plant installation, commissioning and maintenance specialist Shanahan Engineering to Scotland’s Wood Group last October.
Mr Moore continued: “Cross-border M&A deals continue to present significant opportunities for both UK businesses and their advisers.
“Our international ambitions are being effectively supported by the worldwide offices of IMAP, which have proven to be a highly successful outlet for global deal activity in 2009.
“Throughout 2010, we will continue to work closely with our international IMAP offices to efficiently advise our clients in the UK and overseas on cross-border deals – utilising local market knowledge to overcome barriers to completion.”