Leading flight case manufacturer Absolute Casing has acquired competitor Nomad Cases in a move that will create a market-leading flight case group, through a deal negotiated and led by Swindon’s corporate finance specialist Watersheds.
Absolute Casing, now in its 25th year, supplies high quality, bespoke protective flight cases to a vast number of market sectors, including Formula 1, Premier League football, the Olympics, medical, television production and the oil and gas industry. Managing director, Ed Franklin wanted to increase market share and in-house capability, and acknowledged that an acquisition could help the strategy become reality.
Nomad Cases is already a well-known name in the industry, employing 29 people in their premises in Market Harborough. Ed commented
“There is a lot of synergy between Absolute Casing and Nomad Cases in terms of what we do and who we supply and so when Nomad’s owner was considering retirement, we were keen to explore the opportunity. We had worked together before on certain projects and I knew Absolute Casing would be a good home for its customers and staff.
“The team at Watersheds provided us with invaluable advice and support through the whole process, enabling us to continue focusing on the day-to-day running of the business. The team was available at times that suited the business best, inside and outside of normal business hours, so I was confident that everything was being looked after properly throughout.”
Jessica Painter, partner at Watersheds, said:
“A strategic acquisition like this can be an excellent growth plan for a business. As advisors who work across both acquisitions and disposals we can provide a balanced perspective and anticipate what either side is going to want in order to achieve a smooth deal.
“The current funding landscape for small businesses is challenging at the moment and it can be difficult for business owners to navigate as well as find the best deals. That’s where a specialist corporate finance advisor is especially valuable so you know the best routes and options available for your situation and business plans.”
Thrings and Marriott Harrison provided legal advice on the transaction, with funding provided by HSBC Commercial Banking.
For further information on Watersheds, visit www.watersheds.ltd.uk