We are pleased to have provided a multimillion-pound facility to support the Management Buy Out of Powdertech, a leading specialist powder coater.
Powdertech Corby was established in 1988 as a specialist powder coater for architectural metals - aluminium, galvanized steel and mild steel, working across all market sectors including commercial, residential, retail, rail, public sector, sport and leisure. They aim to provide a One-Stop-Shop for architectural powder coating, organising all services as necessary including collection, delivery, galvanizing, shot blasting, and fettling.
The company, backed by Cordovan Capital Management, a micro-cap private equity investor, operates one of the most up to date powder coating and pre-treatment plants in the UK, with strong growth underpinned by continual product development and investment in the latest equipment.
The MBO team Giles Ashmead and Richard Besant commented “We are excited to be leading Powdertech through its next phase of growth, together with our dedicated team we will can build on our reputation for the highest quality pre-treatment systems and application of specialist and high-quality powders. With the backing of Cordovan Capital and ThinCats we will continue to expand our product range and services for our customers.”
The funding was advised by Bill Holwell at LGF partners.
Powdertech has a fantastic reputation for innovative products and the team works to exacting standards. Under the leadership of Giles and Richard the business has gone from strength to strength and we are committed to supporting their continued growth. ThinCats have been the perfect partners and we look forward to working with them on future transactions.
Daniel Anderson, Partner, Cordovan Capital
Bill Holwell, LGF Partners “It was a pleasure to advise Cordovan Capital on their first UK investment and look forward to working with them on their next transaction. It was also great to work with the team at ThinCats who came up with the right debt structure to support Powdertech’s business growth plans.”
Stuart Thompson, Director Business Development, ThinCats: “It is great to support ambitious businesses like Powdertech that continue to lead their industry in product development, innovation and standards. It was great to work with their team and together with Cordovan Capital, I am excited to see them take the business to even greater heights.”