Category Archives: Business Transactions

Scarborough Specialist Becomes Market Leader With Latest Acquisition

Rapidly expanding packaging and stationery specialist Duraweld, based in Scarborough, is continuing its growth journey with the acquisition of the business and assets of Celsur Plastics Ltd, Ambroplastics Ltd and Abbey Stationery Products Ltd, strengthening its position as the leading player in the sector.

Having served thousands of customers in the bespoke stationery, presentation and packaging sector for the last six decades, the three brands have now joined the Yorkshire-based Duraweld group following their liquidation in January 2023. Headquartered in Staines, Celsur is one of the best-known names in the industry providing a wide range of pvc, paper over board and polyprop products and promotional gifts. Sister company Ambroplastics, based in Telford, provides bespoke solutions for plastics and card-based products in the presentation packaging sector.

Duraweld has also strengthened its seven-strong sales team and ensured continuity for customers with the appointments of Emma Morris and Sharon Heath, both of whom have worked for Celsur for more than 20 years.

Founded in 1959, Duraweld designs and manufactures a wide range of packaging and stationery products for customers from the NHS to the FA, working across sectors such as healthcare and retail. Led by managing director Mark Yeung, it has a purpose-built factory which includes in-house screen printing, digital printing, inline paper over board wrapping, high-frequency welding, sonic welding, digital and hydraulic cutting, foil-blocking and embossing. The Scarborough-based business employs over 50 people.

The acquisition was supported by Sue Moul of specialist finance team recruiter Headstar in Leeds who has been working with Duraweld as the company’s finance director for the last two years, providing strategic financial support.

These latest acquisitions follow the merger of leading designer and manufacturer of quality packaging solutions, Prima Yorkshire, into Duraweld in November 2022 which expanded Duraweld’s service and product offerings, cementing its position with key customer groups and adding folding card products to the range.

Mark Yeung, managing director of Duraweld said, “There are some incredible synergies in the mindset and approach of Celsur and Duraweld – we operate in similar sectors and offer complementary products and levels of service. Adding these long-established brands to our extensive portfolio marks an exciting new phase for the businesses – we are looking forward to supporting their former clients, alongside our extensive customer base, all backed by Duraweld’s deep manufacturing expertise.”

“It’s exciting to further expand our customer base during a period of such strong growth for Duraweld, with the move strengthening our position as the go-to business in this specialist sector. We also pleased to welcome such experienced sales professionals as Emma Morris and Sharon Heath to the Duraweld family, and there will be more appointment announcements to come.”

Emma comments: “It has been a challenging period, but I’m genuinely excited to be joining Duraweld. The team have been great, and I’m looking forward to providing continuity and ensuring a seamless transition for longstanding customers.”

Celsur CEO, Phil Caudle, who will work closely with Duraweld during the handover period, added: “We are proud of having created a business with a passion for disruption and a vision to shake up the packaging and stationery industry. While the pandemic and geopolitics presented us with many challenges, having got to know Duraweld in recent months, we have been impressed by their capabilities and are confident that the businesses have a great future ahead as part of the Duraweld group.”

125 Year Old Skipton Business Sold

DMH Stallard advised Comptoir General Du Ressort C.G.R. SAS, on the acquisition of the entire share capital of John Binns & Sons (Springs) Limited, based in Skipton, North Yorkshire.

Based in France, CGR is an engineering business, with operations in Europe, America and Asia, specialising in co-engineering and serial production of metal and plastic components, based on cold forming technology. CGR had group turnover of Euro 196m in 2022 and works in the supply automotive, aviation and electronics industries.

John Binns & Sons (Prings) Limited has been operating for 125 years, from a base in Skipton, and recently invested in new technology, supporting lean tech for its complex spring production to a broad customer base. John Binns will continue with its present management team under CGR ownership.

Jean-Marie Lavirotte, Business Development Manager at CGR, said: “JB Springs is a fantastic opportunity for CGR to establish a first base in the UK. DMH Stallard played a key role helping us to close the deal.”

Jonathan Grant, Partner and Head of Corporate at DMH Stallard, said: “CGR is a great client to work with and we enjoyed helping deliver this deal for them. In challenging times for many businesses, it is good to see a French business broadening its international network into England.”

The buyer was advised by DMH Stallard (legal), and Russ Cahill (tax). The sellers were advised by Squire Patton Boggs (Legal), and Mazars (Corporate Finance). Financing was provided by BNP Paribas and Credit Agricole.

Cashless Payments Systems Business Bought Out Of Administration

Following the appointment of Julian Pitts and Jamie Taylor of Begbies Traynor and Jason Callender of Panos Eliades Callender & Co as joint administrators of Leeds-headquartered Tappit Technologies (UK) Ltd on 20th January 2023, a sale of the business and assets has been completed, saving all jobs in the UK.

Established in 2018, Tappit Technologies collates actionable consumer data insights through its white label cashless payment solutions to personalise fan experience and drive value for venue partners. Its interface enables clients to build their own data ecosystem, fully customised to their clients’ needs.

Operating in 20 countries, Tappit Technologies has significant penetration in the sports, leisure and entertainment markets. In addition to its UK base, it has subsidiaries in the US and the UAE.

While undergoing a growth phase and anticipating further demand, the business had increased its overheads, however, it was subsequently impacted by a slowdown in growth related to COVID disruption to its events sector client base.

Begbies Traynor was appointed to carry out an accelerated M&A process to find a buyer for the business. This resulted in a pre-packaged sale to Tap Holdco Limited on 20th January, saving all jobs in the UK operation as well as retaining all US and Dubai staff through the sale of the company’s two subsidiaries as part of the sale (although these companies were not subject to insolvency proceedings).

Julian Pitts, regional managing partner at Begbies Traynor in Yorkshire, said: “Unfortunately, events-based businesses were amongst many severely impacted by two years of multiple lockdowns and COVID disruption. It is, therefore, very satisfying to complete the sale of such a dynamic business, enabling it to continue on its growth journey while also saving the jobs of its 35-strong team in the UK as well as those in its subsidiaries in the US and the UAE.”

The administrators were advised by HCR Sprecher Grier; and asset valuations were undertaken by Gordon Brothers and Metis Partners.