Evolve Corporate Finance advises Midlands-based rubber manufacturing specialist on sale to market consolidator
Evolve Corporate Finance, the national M&A advisory practice headquartered in Birmingham, has successfully advised the owners of Veker Extrusions (“Veker”), a Birmingham-based specialist manufacturer of rubber extrusion products to the construction, marine, automotive and rail markets, on its sale to Worcestershire-based Reddiplex Group.
Under the stewardship of Veker’s directors and shareholders, Paul Kersel and Kevin Crossley, the business has become one of the leading independent players in the UK market. It offers a comprehensive range of specialist rubber extrusions, gaskets, seals, and mouldings to UK and overseas clients across a diverse range of markets. The sale to Reddiplex, a market leader in the sector, will enable the business to grow and invest further in product development and innovation while simultaneously providing a full exit for its shareholders.
Reddiplex, which is headquartered in Droitwich, Worcestershire, specialises in manufacturing high-quality extruded plastic and rubber products. The acquisition of Veker expands Reddiplex’s capabilities and offering, as Veker brings several unique and complementary product and process solutions to the group, strengthening its position as a market leader in the UK.
An advisory team at Evolve Corporate Finance, led by David Neate, partner and co-founder, with support from assistant director, Doug Allan, provided advice to the owners of Veker.
David Neate, partner and co-founder at Evolve Corporate Finance, commented: “We are delighted to have supported the shareholders on the company’s sale to Reddiplex. This sale represents the culmination of a life’s work for Paul and Kevin and a great result for them. In addition, under the ownership of Reddiplex, Veker has a bright future and is well positioned for future growth.”
Paul Kersel, managing director at Veker, added: “The sale of Veker to Reddiplex marks an exciting new chapter for our business. By bringing together the manufacturing capabilities, products and process solutions of both businesses, we are well placed to continue building on the outstanding reputation we have in the market. The support and advice from the Evolve and Pennington teams has been exceptional. They took the time to understand our business and our goals and guided us through every step in the process to reach the right outcome for all parties.”
