Apollo Chemicals was a privately owned company, manufacturing adhesives and sealants for roofing, industrial and construction applications. It is a Tamworth, UK based company and was in the second generation of family ownership.
The shareholders recognised that the business needed a succession plan and it was felt that the best solution was a sale to larger corporate organisation.
Our objective was to maximise the value for the shareholders, ensure minimal distraction for the management team and ensure that the business was sold to the right partner.
We worked with the management team, undertaking preparatory work over a period of 6 months to ensure that the sale process would be as smooth as possible. This involved pre-sale legal and environmental due diligence and the refinement of the business plan to ensure it reflected the growth opportunities and would stand up to due diligence. It also involved the preparation of an extensive virtual data room.
We conducted global buyer research and concluded that we should focus on a small number of key strategic buyers who we believed would see the strategic fit and would be the right partner for the business.
Quality selling materials
We prepared a high quality information memorandum that ensured the key value drivers of Apollo had been identified.
We were able to conclude a transaction with HB Fuller within 3 months of commencing the sale process, maintaining competitive tension.