Partner Article

HURST advises Beta Group on acquisition in north east

A Lancashire firm has completed another takeover as part of its buy-and-build strategy.

Beta Group, a manufacturing and maintenance business based in Bacup, Rossendale, has bought the trade and certain assets of Spraytherm for an undisclosed sum.

Spraytherm, which sells, maintains and services spray booths used for vehicle and industrial paint spraying, has its headquarters on the Teesside Industrial Estate, Thornaby, Stockton on Tees.

The business, which was established in 1991 and was family-owned, has a customer base which includes national repair centre chains.

The acquisition is the fourth for Beta in under a decade and adds £250,000 to the group’s turnover.

Martin Lewis, the founder and chief executive of Beta Group, which employs 50 staff and turns over £5m, said the latest deal extends his firm’s national spray booth operations in the north east and will create cross-selling opportunities.

He said: “This acquisition forms a natural part of our growth strategy within the spray booth industry, and complements our other activities.”

Beta Group was advised on the acquisition by a corporate finance team at Manchester and Stockport accountants HURST led by Tim Scott, and by Julian Bond and Kevin Rimmer of Manchester law firm Glaisyers.

Tim Scott, an associate partner at HURST, said: “Spraytherm is a great strategic fit with Beta Group which strengthens its market position in the north.

“The group is looking at further acquisitions as part of its growth strategy.”

Mr Lewis founded Beta Group in 1987 and has grown it into a leading servicing and maintenance specialist.

Its operations include building services maintenance, the supply, installation and maintenance of spray booths, the manufacture of air filters for the heating, ventilation, air conditioning and spray booth industries, and coatings for furniture and other products.

This was posted in Bdaily's Members' News section by HURST .