Fairgrieve Composites Limited sold by Kings Corporate
A specialist manufacturing company based in Country Durham has been sold by Kings Corporate.
Fairgrieve Composites Limited is situated within Washington, close to Newcastle city centre. The business specialises in plastic moulding injections and other aspects of compression moulding.
The company was established over 100 years ago and has been ran under the current ownership for several years and has cemented an excellent reputation for quality and enjoys loyal custom.
The client base for the business is worldwide, with clients located in China, Germany and Poland amongst others, and the large clientele has assisted in the business building an impressive reputation.
The business operates from a substantially sized factory that is within close reach of travel links, particularly the motorway. The unit includes a reception area, offices and a canteen, with an established unit, ideal for a first-time buyer to purchase.
Our client wished to sell the business to accommodate their retirements plans and instructed Kings Corporate in the sale of the company.
Our unique marketing and research strategies gained significant interest in the business with 10 viewings and 4 strong offers and was purchased by new entrants to the sector.
The buyer was attracted to the business due to overall acquisition description and the opportunity to enter a new industry.
Sales Negotiator Ryan Bilsborough said: “I am delighted to see this deal through to completion and wish our client a well-deserved retirement”.