Bishopsgate Corporate Finance has advised the shareholders of Microgard on its sale to global protective solutions group Ansell for £59 million.

Microgard designs, manufactures and sells chemical protective clothing to more than 75 countries worldwide. In addition to its Hull head office, the company has a German subsidiary and manufacturing subsidiaries in Xiamen, China, employing 750 people across its group.

Founded over 100 years ago, Ansell designs, develops and manufactures a wide range of personal protection solutions.

Graham Stonehouse, Microgard founder, said: “We are pleased that Microgard is joining forces with Ansell, the recognised world leader in protection solutions.

“Ansell’s global reach, commitment to quality and record of innovation will deliver immediate value to our business, our people and our partners.”

Tom Spencer, Director of Bishopsgate, led the transaction, negotiating the deal on behalf of the Microgard shareholders and project-managing the sale process.

“I’d like to thank Tom Spencer at Bishopsgate for his hard work and constant support throughout this transaction,” said Graham. “His guidance, sound judgement and clear decision-making eased a complex process and helped ensure a successful completion.”

Tom Spencer added: “This was a long and complex cross-border deal which we are delighted to have completed for the shareholders. Achieving an adjusted EBITDA (Earnings Before Interest Tax Depreciation and Amortisation) multiple of approximately nine clearly demonstrates the strength of the Microgard brand and its management team.

“We wish the team a great future developing the business within the Ansell Group.”

Nasim Sharf at Rollits led the legal team providing legal advice to Microgard and its shareholders, supported by Craig Engleman.  Baker Tilly’s Hull office provided UK tax advice and PwC prepared the vendor due diligence and gave specialist Chinese tax advice.

Notes for editors

Bishopsgate Corporate Finance is one of the UK’s longest established corporate finance boutiques.

Based in Stamford, Lincolnshire, the company focuses on providing lead advisory services to businesses valued between £2m and £50m.

Founded in 1996, it has advised on over 180 transactions with a total value in excess of
£1 billion. Its clients include owner-managed businesses, private equity backed companies and fully listed PLCs.

For more information about this news release contact:
Jez Ashberry
01522 528540
07780 735071
jez@weareshootingstar.co.uk
www.weareshootingstar.co.uk
@jezashberry
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