24 August 2021, GIL Investments Limited (“GIL Investments”) announces that it has led the acquisition of Abbey Metal Finishing Company Limited (“Amfin”) from Camellia PLC (“Camellia”).
Amfin is a leading provider of metal finishing services for precision engineered components in sectors including aerospace, defence, automotive and others. It operates from a state of the art 75,000 sq. ft. facility in Hinckley, Leics., and its offering includes a wide range of specialist metal surface treatment operations, including etching, non-destructive testing, anodising, plating, paint spraying, plasma spraying and inspection services. Its customer base includes a large number of blue-chip OEM, Tier 1, 2 and 3 companies and in addition to the large number of customer specific approvals it carries, it is also AS/EN9100, IS014001, ISO45001 and NADCAP accredited.
GIL Investments is a UK headquartered private investment firm which invests in a range of sectors but has a particular specialism in manufacturing and industrials businesses. GIL Investments’ portfolio now comprises fourteen companies with combined turnover in excess of £400m.
The existing management team of Amfin will continue to lead the business and is being bolstered by the appointment of David Williams as Non-Executive Chairman.
David Williams, Non-Executive Chairman of Amfin said:
“I am absolutely delighted to have this opportunity to work with such a fantastic and respected business, delivering specialist metal finishing services to some truly world class blue-chip customers. Working with Gary Griffiths, MD, and his team, I aim to expand Amfin’s service offering to develop our relationships with new and existing valued customers”.
Mark Freeriks, Head of Strategy & Corporate Development at Camellia said:
“Camellia’s previously stated strategy is to review its non-core investments and the sale of its interest in Amfin is consistent with this strategy. However, it was important to Camellia that the acquirer of Amfin both understood the business and was supportive of the long term interests of the company and its staff. In selling the business to GIL Investments we believe we have achieved that aim and we wish both GIL and the team at Amfin our sincere best wishes as they embark on the next stage of Amfin’s journey together.”
Les Litwinowicz, CEO of GIL Investments said:
“Amfin is a first class facility providing an exceptional service to its customer base. We look forward to working with the team to drive the business performance and develop opportunities in new sectors.”
Bank funding was provided by Independent Growth Finance (“IGF”). GIL Investments was advised by Gateley PLC (Legal), Business Strategy Group (Commercial) and Mazars LLP (Tax). IGF were advised by Pinsent Masons LLP (Legal). Camellia was advised by BDO LLP (Corporate Finance) and Travers Smith LLP (Legal).
The terms of the transaction have not been disclosed.
