A leading manufacturer for the naval and civilian shipping industry, Oldham Seals Group, has been sold to US investment company Arcline.
Oldham Seals Group was established in 1964 in Chichester, West Sussex, by Charles Oldham who was joined by his son Anthony. It specialises in designing and manufacturing rubber pipe systems and related products to a worldwide maritime market. The product range includes Jetpac Rubber Flexible Hoses and Expansion Bellows which have been type approved by the Ministry of Defence Naval Standards.
The family-run business has been sold to Integrated Polymer Solutions, Inc., a portfolio company of Arcline Investment Management, a US investment company. With headquarters in New York, Arcline have a portfolio of 25 high value businesses in the defence, aerospace, industrial technology and life sciences sectors.
Oldham Seals Group’s owners Chris and Nick Oldham, sons of Anthony Oldham, were advised on the deal by a specialist team of advisers at Knights led by Corporate Partner, Dominic Travers. The shareholders were also advised by corporate finance advisers at Rothschilds.
Chris Oldham said:
“We are delighted to complete the sale of our family business and wish the buyers every success. Dominic and the team at Knights guided us through the sale process, which took several months, and required government approval, and worked seamlessly with our advisers at Rothschilds and the wider deal team. They were professional throughout, communicated clearly, are nice to deal with and delivered the transaction to schedule.”
Dominic Travers, Corporate Partner at Knights, added:
“We’re proud to have played a small part alongside our amazing cross-disciplinary team at Knights to secure the next stage of Oldham Seals Group’s history with this transaction.
“This deal further demonstrates that South East-based manufacturers are among the best in the world and as a result attracts significant inbound investment into the UK.
“The Oldham family have grown this business to the point where it is now a global distributor and a market-leader, and we wish them all the best in the future as a part of the Arcline portfolio of companies.”
Dominic was supported by Corporate colleagues Sam Steckler and Meri Seiranian, Commercial Partner Daniel Mackelden, George Maynard and Ellen Huison, Employment Partner Amy Richardson, Tax specialist Julian Moran and Real Estate Solicitor Maddy Grzegorzek.
KAL Capital and Walker Morris LLP were among the buyer’s advisory team.