Euston Ventures acquires Silex Ltd
Euston Ventures has grown its portfolio with the acquisition of specialist silicone manufacturer, Silex Ltd. Shawbrook supported the transaction with a timely, efficient solution delivered from credit approval to completion in four days.
At a glance
Shawbrook has backed Euston Ventures, a UK-based investment group in its seven-figure acquisition of specialist silicone manufacturer, Silex Ltd.
Established in 1985, Silex Limited is a leading manufacturer and distributor of Silicon Products and components operating in both the UK and European markets via its wholly owned subsidiary, MVQ Silicones GmbH in Germany. Over the last four decades, Silex have built up a strong customer base for which they are the go-to supplier and offer an end-to-end service which includes consultation, design, development and sourcing of materials.
Euston Ventures specialise in acquiring and investing in niche manufacturing companies. Euston chose Shawbrook as its financial partner for the deal due to the strong existing nature of their relationship, having collaborated three times prior with the specialist lender on deals with SafeSpaces, Hammond Chemicals and Pimseal. The acquisition was supported with a seven-figure commercial loan.
Euston was attracted by Silex’s niche value-add offering, unique market position and heritage as well as identifying the manufacturer as a natural fit for its existing portfolio of businesses. As part of the deal, acquisition entrepreneur Edmund Normanton is joining Silex as the company's new CEO. He will work with the company’s existing management team to invest in the business and looks forward to contributing to its future growth.
The strong relationship between Shawbrook and Euston led to an efficient, fast-moving deal time, with negotiations progressing from credit sanction to completion in just four days.
Mark Dominik, Partner at Euston Ventures, said
“Silex is a strong, well established business that has a unique and broad market offering. We knew about the technical quality of their products from their strong, well-established reputation. We see the business as a natural fit for our portfolio and are delighted to announce the completion of this deal."
As always, it was a pleasure to work with Shawbrook who, over the course of four deals, have reflected an in-depth understanding of the kinds of deals we do and have become a great partner to us
Oliver Sutton, Director of Structured Finance at Shawbrook, said
“At Shawbrook, entrepreneurship through acquisition is a growing area for us and supporting our partners at Euston on another deal has been rewarding. Euston’s ability to build relationships and maintain operational stability throughout this specialised acquisition process is exceptional and we look forward to working with them on future ventures."
Pinsent Masons acted for Shawbrook on the deal and Gerald Edelman conducted the financial due diligence. Ashtons Legal supported Euston on the acquisition, and Entrepreneurs Hub and IBB Law supported the sellers.
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