Member Article

Chinese company set to acquire Middlesbrough chemicals manufacturer

Middlesbrough-based Fine Industries Ltd is set to be acquired by Chinese company Lianhe Technology Company Ltd in the coming months, after the transaction reached a formal exchange.

Owned by private equity firm NorthEdge Capital, Fine Industries manufactures products used in the chemical and life sciences industries.

In what is Lianhetech’s first acquisition outside of China, Fine Industries will become the company’s European base, allowing the organisation to operate in closer proximity to its customers and markets in Crop Protection, Pharma and Performance Chemicals.

The transaction also extends the business’ portfolio of product development services and manufacturing solutions.

PwC’s North East Corporate Finance team acted as lead advisor to shareholders on the sale of the business which employs 220 people and has a turnover of £52m.

Paul Mankin and Gareth Marshall led the deal with support from Alex Marsh and Stuart Dykes.

Paul said: “The PwC Corporate Finance team have worked closely with NorthEdge Capital and the company’s management team since the original acquisition was completed in 2013.

“We are delighted to have been able to support the business on its growth journey over this period and this transaction will provide an exciting platform for further growth, and inward investment from overseas purchasers such as this is positive for the region.”