Global aluminium composite panel manufacturer Multipanel has been acquired by Grimco Inc.
US-based Grimco Inc is one of the world’s largest suppliers of sign supply products and services to the sign and display industries, with over 65 locations across North America and a recent strategic expansion into Europe.
Exeter-headquartered Multipanel is one of the world’s leading manufacturers of aluminium composite panels for the sign, display and printing industries, predominately supplying the UK, European and North American markets.
“Grimco and Multipanel have aligned aspirations to invest in and grow the Multipanel manufacturing capacity in the US, Europe and Asia. This represents an exciting opportunity for Multipanel to realise its full potential.” said Andrew Cock, Managing Director, Multipanel.
“It will be very much business as usual after completion, with our continued focus on customer service and product quality. The existing brand and management team will remain in place, and we look forward to delivering the global growth strategy with the Grimco team” added Andrew Cock.
Isca Ventures acted as the lead corporate finance advisers to Multipanel. Due diligence was undertaken by EY Parthenon. Legal support was provided by Taylor Wessing (Grimco) and Ashfords (Multipanel).
“We have worked with the Multipanel shareholders since we founded Isca Ventures ten years ago. It has been fantastic to see the management team grow Multipanel into a highly profitable £100m+ turnover global business and develop into a leading UK-based manufacturer. It was a pleasure to work with the shareholders to deliver this company sale and we have no doubt Grimco is the right partner to enable Multipanel to deliver its future plans for international growth.” said Mark Champion, Partner, Isca Ventures LLP.
