Bufab acquires apex stainless holdings limited
Bufab has acquired 100 per cent of the shares in Apex Stainless Holdings Limited (Apex Stainless) - a privately-owned UK company, specializing in the distribution of stainless steel fasteners, mainly to UK-based customers. The base purchase price amounts to approximately SEK 310 million on an "enterprise value" basis.
Apex Stainless was founded in 1991 and has since then enjoyed a very stable and profitable growth. Today, Apex Stainless is one of the leading UK distributors of stainless fasteners. The company has 110 employees who work in four linked operations in Rugby, Bilston, Teddington and Leeds, and in the manufacturing unit in Leicester.
Bufab is a company group that offers its customers a full-service solution as Supply Chain Partner for sourcing, quality control and logistics for C-Parts (screws, nuts etc.). The group with headquarter in Värnamo, has approximately 830 employees. In 2014, Bufab's sales amounted to 2.2 billion SEK. Bufab is listed on NASDAQ Stockholm.
Bufab was advised by Mannheimer Swartling in the transaction. The firm’s team was led by Johan Lekholm, primarily assisted by Erik Hensfelt. Zoran Stambolovski and Adam Dolah assisted regarding financing matters. Walker Morris LLP, acted as local counsel.