Fernite of Sheffield is a long-established manufacturer of machine knives. Its products, bearing the prestigious “made in Sheffield” mark are exported to OEM’s worldwide.
Majority shareholder Neil Bowie appointed Strategic Corporate Finance to find a buyer for the business, to facilitate his retirement and help move it to the next level.
“We are very pleased to have advised the shareholders of Fernite on this transaction. As well as allowing their retirement, it provides the company with fresh, highly motivated management that should secure its ongoing success.”
After talks with several interested parties, Green Mill Industries – an acquisition vehicle owned by James Kitching, was selected as the preferred purchaser. James Kitching is an experienced engineer and having acted as Managing Director of another blade manufacturer, DakinFlathers, for a number of years, was the clear choice to take the business forward.
The future success of the company was paramount to Neil, who had acquired the business through a management buy-out in 1994.
“Strategic Corporate Finance were totally committed throughout the lengthy process to obtain the most desirable outcome and were especially helpful during the difficult negotiations. From the start of the process to the final sale they provided wide ranging and professional guidance enabling the vendors to achieve their objectives.”
“I have known of Strategic Corporate Finance for a while, and was glad to find they were involved. Greg was professional and courteous and it always felt like he was acting to make the deal happen as painlessly as possible.”