Joseph Ash Galvanizing signs a conditional sale and purchase agreement.
We are delighted to announce that Joseph Ash Galvanizing has signed a conditional sale and purchase agreement to acquire W Corbett & Co. (Galvanizing) Limited.
Founded by Samuel Corbett in 1860, Corbetts has an established customer base and operates two galvanizing baths from a modern purpose built facility in Telford. Utilising an extensive fleet of lorries, Corbetts is a provider of galvanizing services to the wider UK market.
Joseph Ash Galvanizing believes that by combining Corbetts with its existing UK galvanizing plants in the Midlands and the South East, we will broaden our geographical coverage of the UK. Existing customers will also be provided with an enhanced customer service.
Given the combined size of the two companies, the acquisition is conditional on the approval of the Competition & Markets Authority (“CMA”) in Phase I. The CMA can be expected to commence its public consultation and review process shortly and this process is expected to take around two months. The final outcome will be known at the end of June, and if it is approved, the deal will automatically complete.
Joseph Ash Galvanizing will then run Corbetts, as well as the existing Joseph Ash Galvanizing Telford plant. Corbetts will initially trade as a subsidiary company, whilst sharing and exchanging technology and expertise.
Whether the acquisition is completed or not, Joseph Ash Galvanizing is committed to an existing strategy of development through both organic and acquisitive growth.
Steven Hopkins, Managing Director of Joseph Ash Galvanizing said:
“We are grateful to Mr Rai of Corbetts for considering Joseph Ash Galvanizing to be suitable guardians of the business in which he has invested so much of his energies. I am confident that our two teams will work together, sharing technology and expertise, in order to guarantee the best possible experience for our customers.”
Further announcements will be made in due course.
For more information about the acquisition, please contact Alex Henderson, Company Secretary, on 0121 704 7432.
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