Achieving value for entrepreneurial business owners
Roffe Swayne supported M-Tec and its owner Chris Arnot in the successful sale of his company to global distributor Techsil Holdings Ltd.
M-Tec Ltd is a Surrey based specialist supplier of consumable products including seals, gaskets, adhesives, paints and other coatings. Techsil Holdings is a global distributor of adhesives, sealants, tapes and dispensing equipment. The acquisition of M-Tec underpins Techsil’s expansion and growth plans.
M-Tec and Roffe Swayne have worked together for almost 20 years, with Roffe Swayne providing accounts, tax and payroll services to the company, as well as personal tax services to Chris and his wife.
When Techsil approached M-Tec with an offer, Roffe Swayne worked closely with Chris Arnot in helping him through the sale process. This involved a review of the offer with advice on the structure of the deal and the personal tax implications. Our work also included; preparing the management accounts to support the offer, reviewing the Agreements and working with lawyers to set-up the data room and conduct financial due diligence.
The acquisition moved swiftly. The Heads of Terms was signed in early January and the deal completion at the end of March 2018.
Chris Arnot commented “the offer from Techsil came somewhat out of the blue but Roffe Swayne helped me to evaluate its ramifications and then to move through the sale process, ensuring that our interests and concerns were dealt with to achieve the best possible outcome. It was a very swift and efficient exercise”.