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Shakespeare Martineau advises Nenplas on sale
  • Published:
    12 December
  • Area of Law:
    Deals, Firm news

Shakespeare Martineau advises Nenplas on sale to Dollken-Weimar

Shakespeare Martineau had advised the owners of Nenplas on its sale to Dollken-Weimar (part of Surteco) in a £23.3m deal. Management have, additionally, retained a 15% stake in Nenplas.

Maven Capital Partners was part of the exit having backed the original buy out in 2007 and supported the company through out. Maven achieved a return of more than 5x and an IRR of 30% for investors.

The deal to enabled Nenplas to benefit from new advanced manufacturing and product development technologies as well as gain access to new domestic and overseas markets. Richard Wrigley, a partner in the firm’s Corporate Group, led the Shakespeare Martineau team on this transaction having acted on the original MBO in 2007. Richard and his team carried out the acquisition, due diligence, banking and property legal work.

As part of the sale, the management team is staying with the business for the next three years. Richard Wrigley commented:

“Nenplas has always been an ambitious company constantly looking to grow and drive the business. After the MBO in 2007 there were a number of bolt on acquisitions to grow the business, which saw turnover increase by 150%. We have been advising the owners throughout each growth stage and delighted to be able to see them through this next stage.“

"We’re delighted to be at the beginning of a partnership between two teams who share the same winning spirit and focus on supporting talent to achieve their potential. Everyone here has a great sense of pride and excitement to be working with Team England – a team that, after all, reflects just how much can be achieved by a diverse and varied group of individuals all focused on one goal. We can’t wait to get started."

Joanna Thornell, Client and Markets Director, Shakespeare Martineau