Hilton Smythe is delighted to announce the sale of ABC Industrial Doors to Teckentrup UK.
ABC Industrial Doors is a leading provider of industrial and commercial door systems across the country, boasting a number of blue-chip clients among its customers.
Teckentrup UK are a developing door manufacturer, with a large sister company based in Germany of the same name.
They offer a range of industrial doors, including fire protection doors, security doors, and sound insulation doors. ABC’s offer matched their requirements perfectly.
ABC Industrial Doors was an acquisition to take over their service offering and products, but more so to strengthen Teckentrup’s foothold and further geographical expansion in the UK.
ABC went on the market in September 2021, with the first offer made within less than three months, and the sale successfully completed in July 2022.
Gareth Smyth, CEO Hilton Smythe Group said: “The buyers and vendors got along very well during the process and built an immediate connection following the first meeting.”
“Hilton Smythe made sure both vendor and purchaser were updated in real time, navigating through the challenging parts of the process with a clear head.”
“We had quite a lot of back and forth on the completion mechanism, and in particular the post-completion accounts settlement, but we continued to assist and had the position resolved. The vendors had tried to sell the business previously, so we had to be cautious who we approached to ensure no double-agency fee’s as well.”
Thinking about exiting your business then contact Hilton Smythe today and discover how we can help you achieve your goals.