Square One Law advises on regional acquisition with Danish company

North East coatings specialist, Safinah Ltd has been acquired by Danish company TPO Holdings Danmark to support the company’s international growth strategy.

Commercial law firm, Square One Law advised Safinah Ltd on the transaction, with financial advice being provided by Sterling Corporate Finance.

Recognised as an expert in coating consultancy for the marine, protective and yacht sectors, Safinah Ltd will benefit from the larger markets created by being part of TPO Holding Danmark, which is established in the offshore and shipping industries.

Dr Raouf Kattan, managing director of Safinah Ltd, said: “Becoming part of TPO Holdings Danmark will secure the future of the business and create opportunities by accessing new and complementary markets.

“The business has enjoyed steady, positive growth for twenty years, based on the expertise and coatings industry knowledge of our talented workforce who will become valuable additions to TPO Holdings Danmark’s operations.”

Gateshead-based Safinah Ltd - founded in 1998 - provides services such as coatings project management, coating specification and technology development.

It works with a variety of clients ranging from paint companies, insurances firms and ship owners to shipbuilding and construction companies, manufacturers and oil and gas businesses.

Providing consultancy services, TPO Holdings Danmark has a client base, which includes vessel operators and owners of offshore assets.

Peter Wilhelmsen, partner from TPO Holdings Danmark, concluded: “We have been impressed with the market position Safinah Ltd has established in the coatings industry and we believe that its services will be of real value to our existing and future clients.

“The North East has a strong reputation for engineering and manufacturing, particularly in the marine industry and Safinah Ltd brings that expertise to our organisation.”