Castle Corporate Finance advised on the sale of the UK headquartered Brightwell Group to Italian company Seko.
Brightwell designs and manufacturers branded professional hygiene equipment, and chemical dispensing and dosing systems. It is active in 85 countries worldwide, generating total revenues of over £25m and EBITDA of over £4m in 2018.
Seko specialises in dosing pumps and sees the deal as expanding its expertise and presence in the professional hygiene market. It also offers opportunities to further develop avenues in the aerospace industry via WSM Plastics, a specialist toolmaker and plastic injection moulder of high-end engineering polymers, which was sold alongside the Brightwell group.
Stephen Woolmer, CEO of Brightwell who is remaining with the group post sale, said: “This transaction is strategically important for both Seko and Brightwell. I have no doubt that Brightwell will enhance Seko’s offering, and help them continue their plans for global growth. Castle were hugely instrumental at every stage of the transaction, helping to keep everyone on track, and always remembering the commercial reasons for why the deal was important to the principals, on both sides of the table. I am so grateful to Victoria, whose knowledge and patience kept me going throughout.”