Rockworth has advised on the sale of Young Black Industrial Stapling Limited to Swedish group Indutrade AB. Young Black is one of the leading suppliers of fasteners and fastening systems to industrial and construction businesses in the UK. With sales of c.£10m and around 30 staff, the company will become part of Indutrade’s special products division comprising over 200 separate firms operating in 28 countries. Indutrade is a Stockholm-listed group with annual revenue in excess of £2bn.
The team from Rockworth worked with David Black and Lawrence Young for some time prior to the eventual sale and considered a range of different routes before choosing Indutrade as the preferred acquirer for the business. Both David and Lawrence will remain as Directors of the company going forward.
David Black, Managing Director and shareholder, commented: “Lawrence, many thanks to you and the members of the Rockworth team for achieving such a great result for us with the sale of Young Black to Indutrade. It is the best possible result we could have achieved, both for ourselves as shareholders, and for our staff, ensuring not just the continuation of the company, but positioning it for further growth through the development of our Max and Montana brands. We were very pleasantly surprised at the range of potential acquirers that William managed to introduce us to, and had no idea initially of the types of acquirer that you would manage to find from outside our direct industry. Yours and Zuzana’s thorough approach to Due Diligence was enormously helpful, and as I said before – a really impressive team effort from all involved.”
Rockworth worked closely with the legal team from Thrings in Swindon, led by Simon Hore, during the transaction.