Harrison Drury supports management team to acquire coatings manufacturer

Harrison Drury’s corporate team has advised on a deal that has seen a manufacturer of high-performance anti-skid coatings acquired by members of its management team.

Beegrip Limited produces specialist coatings used in the marine and civil sectors around the world, including by shipbuilders, port operators and contractors, helping to ensure safe movement for both people and cargo.

The company has been acquired by commercial director Nina Lightfoot and technical sales manager Josh Workman who now take over as managing directors. The deal enables an exit from the business for former shareholders Steve Greathead and Amy Wright.

Our corporate team provided legal advice to the buyer with our deal team being led by Jennifer Murphy and Richard Life with support from Richard Williams-Bulkeley.

Commenting on the buyout Nina Lightfoot said: “Josh and I are proud to take over the business and look forward to upholding the outstanding reputation Beegrip has gained around the world for product and service quality.”

Steve Greathead, founder and former managing director of Beegrip, said “I believe the transition is in the best interest of BIMAGRIP® stakeholders and helps retain manufacturing jobs and global trade expertise in the North West region of the UK. I wish Josh and Nina every success with their new roles.”

Jennifer Murphy, legal director in our corporate team, added: “Beegrip is a fantastic business which is growing successfully in export markets around the world, helping its customers move people and cargo safely and efficiently. We’re proud to have played our role in supporting the business’ succession and growth plan, enabling Nina and Josh to embark on the next exciting chapter.”

Beegrip was established in 2017 to realise a management buyout of the BIMAGRIP® industrial coating business. Originally developed in the late 1980s, BIMAGRIP® is today a market leading brand in marine and civil industries.

Manufactured in the North West region of the UK and supplied globally, recent year on year double digit growth has been achieved through national and international sales, particularly in the Far East.

Its products have gone on to be used to provide anti-skid surfaces for a wide range of marine and civil applications, including vehicular carriageways, bridge decks, steel decks, linkspans and bridges.

The corporate finance and tax teams at UK accountancy and advisory firm MHA also advised Nina and Josh on the acquisition.