Venture capitalist acquires Birmingham’s aluminium powder coating company

<p>Long established local aluminium powder coating business Vertik-Al Limited in Birmingham has been acquired by investment funds led by renowned venture capitalist Jon Moulton in a new deal.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/aluminium%20powder%20coating.png" alt="News" width="467" height="314" /></p> <p>Supported by senior debt and working capital facilities from Clydesdale &amp; Yorkshire Bank, Shard End-based Vertik-Al has been acquired by investment funds led by Perscitus on behalf of the family office of Mr Moulton.</p> <p>Vertik-Al is a market leader in the UK aluminium powder coating industry. It was the first to introduce vertical powder coating of aluminium in the UK and has remained a leader in this process. Its customer base comprises aluminium extruders and system design fabricators.</p> <p>The firm has invested significantly in advanced plant and equipment and has one of the few vertical powder coating lines in the UK. Powder coating represents over 15% of the total industrial finishing market and is used on a wide array of products for a high-quality, durable finish.</p> <p>Following the transaction, Graham Brown has been appointed managing director of the group, with Angus Mackie becoming Group Financial Director.</p> <p>{googleAdsense}</p> <p>For the bank, the transaction was led by Senior Directors of the Corporate and Structured Finance team, Ian Howey and Ian Mansell.&nbsp;</p> <p>Mr Howey said: &ldquo;It is extremely satisfying to be able to assist in the evolution and development of businesses like this which have been in family ownership since they were established.&rdquo;</p> <p>The bank was advised by James Dyson and Lee Clifford, of law firm Freeths. Financial due diligence was provided by Julian Clough and Adam Foster, both of Mazars.</p>