Polymarine acquired by Anglo Adhesives
First Peninsula Marine is pleased to announce the sale of Polymarine after it was purchased by Anglo Adhesives & Services Ltd.
Polymarine, the leading supplier of Adhesives, Cleaners, Paints, spares and accessories for the manufacture, care and repair of inflatable boats and RIBs, has been acquired by Melton Mowbray-based Anglo Adhesives & Services Ltd.
After establishing Polymarine over 30 years ago and growing it into a successful highly-regarded export business, Polymarine directors Richard Wilkinson and Michael Capper are retiring and subsequently sold the full share-holding of the company to Anglo Adhesives & Services Ltd.
Trading since 1905, Anglo Adhesives is a well-established adhesive manufacturing company with a highly-equipped plant in Leicestershire. Specialising in solvent-based adhesives it services diverse market sectors, such as construction, shoe manufacturing, signage and POS, Art and Craft, Education and many more.
The marine industry was an obvious sector for the company to explore, using its in-house capacity and expertise. Polymarine’s product range, including specialist adhesives, flexible paints, and boat care products, will continue to be available at the highest quality to customers new and existing.
Charlotte Davey, Managing Director of Anglo Adhesives, said:
“Polymarine is a well-respected worldwide business, and its products, alongside its customer-based model, have many synergies with our business.
“The acquisition highlighted the growth possibilities in the international global market and one of our targets is to expand the existing range to open it up to a wider audience.”
Charlotte Davey – Managing Director of Anglo Adhesives
The aim is to evolve Polymarine using the same research and processes that has always been central to Anglo Adhesives - its customers.
Charlotte continued:
“We are learning constantly from our end-users - we will involve our customers and work with them to make the products that they need available to them - we see it as a two-way connection.
“Polymarine will retain its strong historical brand and we will explore further opportunities and potential within the business and its products. I believe this will lead to natural organic growth in the business, and will open up new markets and possibilities.
“The production and assembly of renowned Polymarine products is moving to our Leicestershire facility, where we have well-appointed technical expertise and manufacturing processes in place to continue providing the high quality products that customers require.
“Using our current resources - commercial, technical, dispatch, sales, customer service, and financial - will benefit our customers. We will never lose sight of our customer service - our customers are so important to us. We like to know our customers and we like our customers to know about us, and that will always continue.”
Utilising Polymarine’s strong marine distribution network is a top priority for the future.
Charlotte continued:
“We strongly support the network that Polymarine have spent many years building, developing and nurturing.
“My team is very engaged with the business and, using our various strengths, expertise and knowledge, we will work collaboratively to increase output and stock holding and therefore decrease lead times.”
Charlotte acknowledges that Polymarine’s outgoing Directors Richard and Mike have been instrumental in the acquisition:
“I would like to thank both Richard and Mike - the transition has been smooth and I am grateful for them sharing their experience - their wealth of knowledge has been invaluable. I wish them both well in their well-earned retirement!
“From our point of view it is very much business as usual, and the quality of our products will always be key. Now is the time to build on Polymarine’s success and take it to the next level!”
About Polymarine
Polymarine is a leading supplier of components, spares and accessories for the manufacture, care and repair of inflatable boats and RIBs. Products include specialist adhesives, flexible paints, boat care products, moulded rubber parts, fabrics and a comprehensive range of inflatable boat accessories.
About Anglo Adhesives
Anglo Adhesives is a well-established, independently-owned adhesive manufacturing company, trading since 1905. It specialises in the manufacture of solvent-based adhesives and services diverse market sectors, such as construction, shoe manufacturing, signage and POS, art and craft, and education.
About First Peninsula Marine
First Peninsula Marine is a specialist business sales and acquisitions agency focused exclusively on the marine and maritime sectors. Operating nationally to provide a range of strategic advisory services to business owners, trade buyers, financial institutions and private investors. First Peninsula Marine advises on a wide range of instructions from £multimillion corporate finance backed transactions and strategic plc acquisitions to local owner-managed business sales.
Deal Summary
- Guide Price: £725,000
- Financials: Undisclosed
- Transaction Structure: Acquisition of 100% of Share Capital in Aeromarine Systems Ltd by Anglo Adhesives & Services Limited
- Advisors to Polymarine: First Peninsula Marine / Gamlins Law
- Advisors to Anglo Adhesives: Legal Clarity