Springboard Corporate Finance has advised the shareholders of Partington Engineering on the cross-border sale of the business to Argent Industrial, a company headquartered in South Africa and quoted on the Johannesburg Stock Exchange. This is the fourth deal that Springboard has completed post lockdown.
Operating from its production facilities in Gloucestershire, Partington designs and manufactures bespoke hand-operated material handling equipment including trolleys, cages, racks, stands and steps. The company services the home improvement, logistics, e-commerce and cash and carry sectors in the United Kingdom, Europe and Asia.
Argent Industrial is a diverse global group of portfolio companies operating in a number of sectors including manufacturing, steel trading, building and property investment within South Africa, UK and USA. The acquisition enables Argent to grow its business by further diversifying its portfolio of companies and to continue expanding internationally into the United Kingdom.
Brian Jones, Managing Director, Partington
Having developed the business over the past 18 years, I am delighted that Springboard has successfully secured the sale to Argent Industrial. This strategic partnership for the business will enable Partington to continue to develop new products, access new markets and to continue its growth trajectory.