Partwell Group acquires SJH Row and Sons
Blackburn-based manufacturer, Partwell Holdings, which specialises in cutting technology, CNC machining of plastic parts and the manufacture of food cutting surfaces, has acquired Essex-based competitor, SJH Row and Sons.Row is a long-established business specialising in the manufacture of cutting surfaces for the food industry.
Partwell started trading in 1979. This latest acquisition takes staff numbers to 39 and is evidence of their continued growth and market expansion.Jim Akrill, corporate finance partner at PM+M, advised Partwell on the deal. He said: “This was an excellent strategic move for Partwell. Row is a brand leader in its sector. The acquisition opens up new markets for Partwell and introduces complementary product lines. The combined entities will have greater critical mass leading to enhanced future prospects.”
Legal adviser to Partwell was Blackburn-based commercial firm, Taylors. Corporate partner, Stephen Jarman, said: “It was a delight to be able to help Partwell acquire such an historic, but still very relevant, company as SJH Row. One hundred and thirty years of trading history did throw up some problems, but we were able to overcome them. We wish Ashley and Partwell all the best with the new acquisition."
Senior debt was provided by HSBC with additional working capital from North West Fund for Loans Plus, managed by FW Capital.