Date posted: 25th Sep 2024
VPI Products UK Ltd, a multi-specialist manufacturer of premixed mortars and finishing products for the construction market, has strengthened its operations and customer experience with the acquisition of fellow County Durham-based firm, Durham Render Centre, a long-established stockist and distributor of external coating products.
A trio of North East businesses, Clive Owen LLP, Swinburne Maddison LLP and Anglo Scottish Finance, were instrumental in facilitating and completing the successful acquisition.
Clive Owen LLP provided the financial due diligence and fundraising support for the deal, with solicitors from Swinburne Maddison LLP handling the legalities and Anglo Scottish Finance acting as the funding broker.
Part of the VICAT Group, VPI Products UK Ltd, which is based at nearby Littleburn Industrial Estate, manufactures, imports and distributes a wide range of render products across the building services sector.
Durham Render Centre, based on Belmont Industrial Estate, is renowned for its reliability and service, with the specialist merchant operating a region-wide fleet of vehicles from its 10,000 square feet warehousing and distribution facility. It supplies direct to customer sites, ranging from large main contractors, rendering/plastering contractors, sole traders and builders’ merchants.
As well as complementing VPI Products UK Ltd’s existing operations and range of services, the acquisition marks the culmination of Durham Render Centre’s succession plans, enabling directors Dean Gray and Trevor O’Neil to retire. Fellow Durham Render Centre director Garry Welsh, as well as the company’s remaining employees, will continue working for the company.
Nick Cheek, Director of VPI Products UK Ltd, said: “There are significant operational synergies to be gained from this strategic acquisition, which represents an exciting chapter for VPI Products UK Ltd. The addition of Durham Render Centre aligns with our ambitious growth plans that will undoubtedly complement our wide range of services, robust distribution network and overall customer experience.
“We wish Dean and Trevor all the very best in retirement and are excited to welcome Garry and his colleagues to the team.”
Carl Wright, Partner at Clive Owen LLP, said: “We are delighted to have facilitated this successful acquisition involving two long-established, specialist North East businesses that will drive forward future growth and support the wider construction market. It was an exciting deal to have been a part of, which is a testament to the collaborative expertise and efforts of all professionals involved.”
Alex Wilby, Partner at Swinburne Maddison LLP, said: “It was clear from the outset what a fantastic opportunity the acquisition of the Durham Render Centre presented for Nick and VPI Products UK Ltd. As a firm, we have a fantastic working relationship with Clive Owen LLP and our combined professional advice ensured that the deal was completed on time, on budget and in a manner that gives the company a great springboard for growth. We wish Nick and his team all the best and look forward to working with Nick, Carl and the rest of the team at Clive Owen LLP in the future.”
Stuart Wilkie, Head of Commercial Finance at Anglo Scottish Finance, said: “We were happy to be able to help Nick and Carl with this transaction and utilise our lending experience to structure a flexible and appropriate facility to support the acquisition. We wish Nick and the team all the best for the future and have no doubts they will be a great success.”
