Wokingham Plastics remains one of the leading plastics thermoforming businesses in the UK. With products ranging from furniture to aircraft components, the company is a key supplier to many different OEM’s. The business had undergone a Management Buyout prior to our involvement with the Sales Director and Technical Director jointly acquiring the business from its original founder.
The owners were seeking a step change in scale in order to improve competitiveness through revenue and cost synergies. With this in mind, various routes including both acquisition and sale were investigated. We undertook extensive research and a comprehensive market mapping exercise in order to inform the clients’ decision.
The resulting choice was to merge with a very similarly scaled business, Cox Thermoforming Limited, that was also in the same industry. The founders of the target business were seeking retirement and with a carefully structured deal it meant that both parties achieved their aims. The acquisition effectively doubled the scale of the business and after the expected 6-9 month integration period resulted in a significantly more profitable combined business.