Bracebridge Corporate Finance advises on sale of Apollo to H.B. Fuller Company

Bracebridge Corporate Finance has advised on the sale of Apollo, the UK’s largest independent manufacturer of liquid adhesives, coatings and primers for the roofing, industrial and construction markets, to H.B. Fuller Company, a leading global adhesives provider. H.B. Fuller recently reported revenues of $3.3billion for 2021 and is listed on the New York Stock Exchange (NYSE: FUL).

Celebrating its 50th anniversary this year, Tamworth based Apollo comprises Apollo Chemicals Limited, Apollo Roofing Solutions Limited and Apollo Construction Solutions Limited. It has built an enviable reputation in its chosen markets for the quality of its products, unrivalled customer service and deep technical expertise. It works closely with its customers, solving their bonding problems, and offers a breadth of adhesive technologies. It has unrivalled expertise in the development of innovative polyurethane-based products.

Jonathan Saunders, previous Chairman and shareholder in Apollo, said: “Strategically, the new ownership opens many opportunities for Apollo employees and customers. The current management structure at Apollo will remain, as will the entire employee base, which was crucial in my decision to sell the business. H.B. Fuller’s core values are consistent with those of Apollo. Our core values have always guided how Apollo conducts business and interacts with all stakeholders, so it was vital for me that this legacy continued”.

Ian Cornelius, Managing Director added: “The change in ownership will enable Apollo to grow and prosper under a larger and well-respected organisation. In particular, it will allow Apollo to continue to expand its operations within the EU. It will also provide additional resource, technology and expertise, meaning that we can further enhance and expand our service and product offering to our customers. Being part of a global company also gives our customers further reassurance regarding continuity of supply from numerous manufacturing sites”. 

Andy Moore, Managing Director of Bracebridge Corporate Finance commented: “We are delighted with the outcome for the shareholders of Apollo and to have found the right home for the business. We look forward to seeing Apollo go from strength to strength under H.B. Fuller Company’s ownership.”

Mark Beardmore, Tom Plant and Jake Perryman of Eversheds Sutherland provided legal advice to the sellers. 

Andy Moore
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