Rockworth has advised on the sale of both Pritchard Tyrite Limited and TRS Motorsports Limited to Certex UK, a subsidiary of the AxLoad Division of the multi-national Swedish conglomerate the Axel Johnson Group.
One of the UK’s leading importers and distributors to the cargo control sector, Pritchard Tyrite is best known for its wide range of lashings, curtain sider straps and tarpaulins. TRS Motorsports is a leading manufacturer and distributor of goods to the motor racing sector. With manufacturing facilities in the North-East of England and an international distribution platform, it remains one of the most notable independent suppliers of motor-racing accessories.
Certex UK is a leading supplier of wire ropes and other lifting products and services to the UK industrial, renewable and energy markets. The deal was backed by Certex’s sister company, Forankra AB, a Swedish firm specialising in the supply of products, services and solutions to the European cargo control and handling markets.
On the transaction, shareholder Martin Calhoun stated, “The future looks excellent for TRS and the process has been excellent. We may be a niche market player, but it is important to us that our people have security and continuity, and with Certex’s backing, we fully believe we have an excellent future.”
Rockworth acted as lead advisor to the shareholders of both TRS Motorsports and Pritchard Tyrite.
Kevin Smith, MD of Certex UK commented, “This is an exciting time for the business. We have a strong and active acquisition programme and were delighted with the opportunity to help take Pritchard Tyrite forward.”