A family-run plastics manufacturing business near Bristol has been acquired by one of the trade’s largest distributors in Europe.
Precision engineering firm Nylaplas, based in Nailsea, North Somerset, specialises in plastic components used by clients in sectors such as aerospace, oil and gas, healthcare, as well as Formula 1 motor racing.
The 40-year-old business - which had been owned and run by James and Andrew Bassett, the sons of founders Peter and Leonora Bassett - has now been bought by Vink 海角视频 for an undisclosed sum.
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Surrey-based Vink is a subsidiary of a group of more than 100 plastics businesses across 22 European countries.
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The management team of Nylaplas, headed by managing director Chris Eastman, will remain in place following the transaction, with day-to-day operations remaining unchanged.
Mr Eastman said: “I’m confident that Vink is the right home for Nylaplas. Being part of the larger Vink group further strengthens our position for the future, bringing additional benefits for our customers, suppliers and employees.”
South West-based dealmakers PKF Francis Clark advised Nylaplas shareholders on the transaction.
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Chris Bishop, corporate finance associate director at PKF Francis Clark, said: “We’ve been delighted to be able to support both the family and management team, for whom the transaction is the culmination of many years’ hard work.
“Nylaplas is a great strategic fit for Vink, growing its capabilities in the sector. Importantly, Vink will also be a good home for Nylaplas, with its model of encouraging its businesses to operate independently providing a fantastic opportunity for the team.”