MBO at world’s largest manufacturer of flocked applicators
The management team at Cheshire-based Flock Development & Research Limited, the world’s largest manufacturer of flocked applicators, has undertaken a management buy-out.
Flock Developments & Research, which is based in Stalybridge, Greater Manchester designs and manufactures a range of flock applicators which are used across a number of industries, including the paint & stain, automotive, aerospace and janitorial sectors.
Flock works in partnership and supplies bespoke market-leading products to the world’s leading paint brush, roller and paint manufacturers, including Akzo Nobel, Sherwin William, Ronseal and PPG Comex Mexico.
Its commitment to research and development have led its flocked rollers to be adopted as the industry standard for both the professional and DIY markets across Europe and globally in the contractor market for application for wind turbines. Its flock, foam and adhesive combinations are used in paint pads and other applicators across the world in over 45 countries and marketed under the leading brands.
Its innovative applications have been used to develop unique high performance products in the aerospace sector and the janitorial sector, where the company works with Altro, the world’s largest manufacturer of safety flooring, and Norton Abrasives.
Paul Constantine, Managing Director of Flock Development, said of the transaction: “I am excited about the opportunities the management buy-out will bring to the business. Building on our already successful operations, we have ambitious plans in place for future growth.
“These can only be realised with the continual commitment of the Flock team; from my fellow Director, Sharon Kelly, to our production operatives, most of whom have been with the company for many years and without whom success would not have been possible.
CLB Coopers’ Corporate Finance and Tax teams supported us throughout the transaction, helping us to ensure we are in a position to achieve our future ambitions, both as a business and management team.”
Andrew Feeke (Corporate Finance) and Amanda Sayle (Tax) of accountancy & advisory firm, CLB Coopers, part of the Baldwins Group, acted for the management buy-out team.
He said: “We have worked with Flock for a number of years, so have a thorough understanding of the business and the sector, as well as an invaluable insight into its plans for the future. Flock is a successful business with a focused management team and is exactly the type of organisation that our specialist teams have the skills and experience to support. We wish Paul and the management team every ongoing success and are looking forward to working with them in the future.”
Vicky Protano, Partner at JMW Solicitors provided legal advice to the management team.
Vicky said: “Having worked with Paul Constantine and Flock Developments for several years, it is incredibly heart-warming and positive to see someone who has worked for a business since just after leaving school as a machine operator to grow into a Managing Director and sole owner.
“Paul is very ambitious and works tirelessly in creating new and innovative products for the flocked applicator market worldwide and deserves the achievement his new position provides. I have no doubt that Flock Developments’ success will continue under Paul’s leadership.
“With support from NatWest’s investment, Paul is looking forward to taking the business into a new era and with the success of other North West manufacturing and his in-depth knowledge of the business, he has the stepping stones to be able to achieve this. It was a pleasure to be involved in this transaction and we look forward to working with Paul and Flock on the next stages of growth and development.”
Julia Scott, Senior Relationship Director at NatWest, added: “Flock Developments is a fantastic business and it was a pleasure to be given the opportunity to assist Paul in his exciting new chapter. I am looking forward to being part of what I know will continue to be an extremely successful business under the new management team.”