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Filtermist Limited of Bridgnorth, Shropshire has been acquired by Absolent Invest AB of Sweden. Both companies are well established filtration equipment manufacturers and this strategic move is designed to support their continued development in the diverse global filtration market.
Filtermist was formed in 1969 and is well known in both domestic and overseas filtration markets. Under the stewardship of its management team, Filtermist has become a highly successful UK exporter, supplying over fifty countries throughout the major markets of Europe, the Americas and the Far East.
Mike Stansfield, who will remain as Managing Director of Filtermist, commented: “We are delighted to form this new partnership which will enable us to grow our overseas presence and develop our UK production facilities – this ensures a bright future for Filtermist, its employees and customers.” He added: “This is a strategic move to provide the resources necessary for international growth. Other than that it is very much business as usual – the same name, same people, same excellent products and support”
Springboard acted as lead advisor to the shareholders of Filtermist, helping to identify and confidentially approach potential buyers and negotiate a deal that enabled individual shareholders to achieve their objectives. David Neate, who led the transaction for Springboard, commented “the sale of Filtermist demonstrates that despite these uncertain times, there is still demand from overseas acquirers for UK businesses especially where there is a strong strategic fit between the two”.
Asked to comment on the role played by Springboard, Mike Stansfield commented “We were impressed by Springboard’s proposed approach to selling our business. Springboard’s professional and discrete approach to identifying and approaching buyers for the business, coupled with its commitment, tenacity and open and honest advice, enabled us to meet our collective aspirations. I would have no hesitation in recommending Springboard.”
Posted 31/01/2010
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