Adjustoform Products Limited
We have successfully advised Electa Private Equity (“Electra”) on the sale of Adjustoform Products Limited (“Ajustoform”), to UK-based haberdashery distributor Groves.
Ajustoform is a leading specialist manufacturer of adjustable dress forms. With its unique products and acknowledged expertise, Adjustoform is widely recognised for its high quality. Operating out of the UK Adjustoform services customers worldwide.
The acquisition will see Adjustoform become part of Groves comprehensive portfolio of products, further adding to its existing 60,000 product range. This acquisition presents an opportunity for Groves to continue its growth and provide Adjustoform products to existing customer base.
The shareholders of Adjustoform wanted to realise their investment in the Business and sought a new owner that would be able to protect the heritage and take the business forward.
Corporate finance adviser – Jack Clipsham, Kreston Reeves
Legal adviser – Joanne Gallagher, Joseph Hartland and Georgia Jeffery, Thomson Snell & Passmore
Gavin Manson, CFO of Electra Private Equity said:
“Kreston Reeves have been instrumental in ensuring the completion of this deal. Jack Clipsham was readily available to answer questions and provided assistance to ensure the process was seamless. All this enabled a successful transaction and an excellent new home in Groves for Adjustoform customers and employees.”
Jack Clipsham, Kreston Reeves Partner said:
“Adjustoform is a world class business and it has been our pleasure in helping Electra realise their investment and find a new home that fits with the cultures and values of the business. The disposal will enable the company to be taken to the next level of success.”
Joanne Gallagher, Partner at Thomson Snell & Passmore said:
“We are so pleased to have successfully completed this deal, working alongside Kreston Reeves Corporate Finance to provide a seamless service to our mutual client Electra. We were able to harness our expertise in Private Equity and M&A as well as draw on our wide ranging skillsets from across our commercial departments to successfully complete this transaction. We wish the Adjustoform team all the best as it joins Groves.”
"Kreston Reeves have been instrumental in ensuring the completion of this deal. Jack Clipsham was readily available to answer questions and provided assistance to ensure the process was seamless. All this enabled a successful transaction and an excellent new home in Groves for Adjustoform customers and employees."
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