Wigan manufacturer’s shareholders step down as private equity firm takes over

North West manufacturer Hylomar has been snapped up by the private equity arm of advisory group Dow Schofield Watts.

PHD Equity Partners, having acquired the Wigan-based company for an undisclosed sum, will support the firm’s management team as it pursues plans to expand in new and existing markets.

Hylomar manufactures adhesives and sealants for the automotive sector, employing a team of 28 at its factory in the Aspull area.

Today, the company exports to more than 60 countries and has subsidiaries operating in the US and Germany. Its clients include car manufacturers and businesses working in aerospace.

PHD Equity Partners’ acquisition follows the 2016 death of major Hylomar shareholder Howard Ball and enables the retirement of the two remaining shareholders – Mr Ball’s wife, Patricia, and chairman Peter Rowley.

Craig Richardson and Philip Price led on the deal for PHD Equity Partners, with Tony Meakin supporting.

Craig said: “Hylomar is an established and profitable business within a growing market and whose products are used in many of the best-selling and top of the range brands. We can see ways to add value and pursue growth opportunities.

“We look forward to working with management to help take the business to the next stage of its development.”

Advisory firm MHA Moore and Smalley’s corporate finance team, headed up by Stephen Gregson, acted for Hylomar on the transaction.

Stephen Gregson, corporate finance director at Moore and Smalley, commented: “Having been able to introduce Hylomar to PHD Equity Partners, it is incredibly pleasing to see this deal through to completion.

“Hylomar is a profitable business with a strong management team who can now look forward to the next stage of growth with the financial backing and expertise of the team at PHD Equity Partners.”

Ed Brentnall, from DSW Transaction Services, provided due diligence on the acquisition.

Jonathan Robinson and Katy Phillips of law firm DWF provided legal advice along with the corporate team at Napthens, led by Rob Dobson.

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