K3 Deal Advisory has advised the shareholders of Ramsden Group on its sale to Argent Industrial UK Limited, the wholly owned UK subsidiary of JSE-listed South African group Argent Industrial.
The £10.8m transaction sees the shareholders exit the business and marks a new chapter for the West Midlands-based group after more than 70 years of trading. For Argent Industrial, the acquisition represents a further step in its expansion into the UK.
Tracing its history back to 1954, Ramsden Group comprises Ramsden & Whale, Ramsden Steel Drums, Ramsden Pallets and Drumcare, based in Tipton.
The businesses manufacture new and reconditioned steel drums, supply wooden pallets and provide Intermediate Bulk Container (IBC) reconditioning services, giving customers access to a broad range of industrial packaging products and services.
The acquisition adds Ramsden Group’s manufacturing and reconditioning expertise to Argent Industrial’s portfolio, supporting further diversification as it expands in the UK.
K3 Deal Advisory advised the Ramsden Group shareholders throughout the sale, from positioning the business in the market and negotiating commercial terms through to due diligence and completion.
The transaction was led by George Dalton, Associate Director, supported by Phil Grant, Corporate Finance Manager, and Jacob Rigby, Corporate Finance Executive.
Dawn Richardson, Director at Ramsden & Whale, said:
“Selling a company you’ve built from the ground up is both emotional and complex, but working with K3 Deal Advisory was the best decision we made.
“Their strategic guidance, market positioning and sheer determination ensured we achieved a deal structure and valuation that exceeded our expectations. They anticipated potential pitfalls throughout the process, while their attention to detail during due diligence, expert negotiation and clear communication made a daunting process surprisingly manageable.
“We are extremely grateful for their dedication and outstanding execution.”
George Dalton added:
“The Ramsden Group is a highly established group of businesses with exceptional capabilities in the steel and waste disposal market. The Group can manufacture new and reconditioned steel drums, produce new and reconditioned pallets and provide IBC reconditioning services, a one-stop shop for its customers.
“For Argent Industrial, the transaction presented an opportunity to broaden its capabilities through its continued expansion into the UK market.
“We advised Dawn and the shareholders throughout the process and we are delighted they have achieved a result they are very pleased with.”