Forward advise Maycast-Nokes on acquisition of Braintree Electro Platers

Forward Corporate Finance is delighted to announce the acquisition by Maycast-Nokes based in Halstead, Essex of Braintree Electro Platers, based in Braintree, Essex.  Forward acted as lead advisor to Maycast-Nokes, assisting with deal negotiations, fundraising from Barclays UK Corporate Bank for the acquisition, and managing the process from conception to completion.  This acquisition follows support from Forward in 2019 where, Maycast-Nokes was purchased through MBO by its management team Steve Wallings (Managing Director), Dave Blower (Sales Director) and Derek Redgwell (Finance Director).

With history dating back to the 1950’s, Maycast-Nokes is a leading manufacturer of high-quality precision castings. The Company is proud of its position as one of the most comprehensive, single-site suppliers of non-ferrous castings in the UK. Operating from a modern site, the company is fully equipped with the latest technology to produce machined investment castings, precision sand castings and gravity die castings of the highest standard.

The acquisition of Braintree Electro Platers will enable Maycast-Nokes, over time, to provide surface finishing services to its own customers, providing their customers with an end to end service through casting, machining and finishing processes, whilst also building on the existing profitability of Braintree Electro Platers.

Since 1971, Braintree Electro Platers has been a trusted name in metal finishing, supporting industries with reliable, high-quality treatments. The acquisition has enabled ex-owner Alan Joyce to take a step back from his day-to-day role and free him up to help the partnership strengthen the group’s ability to innovate, expand services, and deliver consistent results built on more than thirteen decades of combined expertise.

Commenting on the transaction Steve Wallings, Managing Director said, “Forward have been beside us all the way through this transaction, explaining how it works, raising the funding for us and managing the deal from start to finish.  It was great to work with Rob again since completing the MBO in 2019 and now six years’ later completing our first strategic business acquisition as owners of Maycast-Nokes.”

Rob Dukelow-Smith, Forward Corporate Finance Director said, “It has been a pleasure to work with Steve, Dave and Derek again, especially on a local transaction that will enable the new group to continue their strategic growth plans together. This is an exciting development for Maycast-Nokes and will provide many opportunities for them, and their staff, which is great for the region.”

Funding for the deal was provided by Barclays UK Corporate Bank led by Laurel McGee with legal advice from Sarah Ilic at HCR Law, and tax advice by Melinda Simpson at TC-Group. The vendors were also advised by local firms through James Boustead at Rickard Luckin and Matt Downing at Holmes & Hills.