A team of advisers from Price Bailey’s Cambridge and Norwich offices recently played a lead advisory role in the disposal of Lincolnshire-based Sinclair Animal and Household Care’s household division to Selden Research Limited for an undisclosed sum. Selden is a leading manufacturer of cleaning and hygiene chemicals for both the professional and retail sectors.
Sinclair’s niche and profitable household division included well established and reputable brands including a ‘premium-value’ range of air fresheners and insect control products under the trade names ‘Nice’n’Fresh’ and ‘Active’. Following the decision to dispose of this non-core part of the business Price Bailey was approached to assist the owners with the sale process.
The Price Bailey Strategic Corporate Finance team, led by Partner Stephen Reed, worked with Sinclair to identify a number of interested parties, with initial offers being successfully negotiated on Sinclair’s behalf to achieve the best deal. Following the selection of a preferred bidder, Price Bailey worked with Sinclair’s legal advisors, Langleys, to support Sinclair throughout the remaining stages of the transaction process.
The deal enables Selden to capitalise on Sinclair’s product range, customer base and distribution network, while allowing Sinclair’s owners to concentrate fully on their core pet operations.
Lee Wallhead, Sinclair Financial controller said “From our initial meeting, through to the completion of the disposal, the team at Price Bailey provided an excellent service. The speed at which they gained an understanding of the business and identified suitable purchasers made the sale process simple and their commitment throughout was impressive.”
Ross Bennett of Price Bailey Strategic Corporate Finance, said: “Sinclair’s operation presented an attractive opportunity to a range of purchasers, none more so than to external contract manufacturers who are looking to bring branded products in-house, making use of production efficiencies and synergy benefits. This transaction proved a timely opportunity for the parent company owners to dispose of their household division.”