North West law firm Brabners Chaffe Street has advised US-based Uniroyal Engineered Products LLC (Uniroyal) on the acquisition of the Wardle Storeys group for an undisclosed sum.
Headquartered in Earby, Lancashire, Wardle Storeys employs over 250 staff, they designs and manufactures polymer films and coated fabrics. The company supplies international markets in many sectors including automotive, contract upholstery, marine, healthcare, child care, transport and yellow goods.
Uniroyal designs and manufactures plastic vinyl coated fabrics. They are the sole manufacturer of Naugahyde – the leading brand name in the vinyl coated fabric market. The company makes Naugahyde products for the automotive; hospitality, health care, marine, office, recreational vehicle, residential facility, and transportation industries. The Nauga name comes from Naugatuck, Connecticut, where the product was first made and trademarked in 1936.
The marrying of Uniroyal and Wardle Storeys enables the company to launch into the European market and Wardle Storeys to introduce its unique design capabilities into the US markets. A very mutually beneficial relationship that elevates the two companies to new heights.
Brabners Chaffe Street Corporate Partner, Tony Harper, and Associate, Jamie Partridge advised Uniroyal on the acquisition. Tony Harper commented:”Our client already has a well established business in the US and this transaction provides a great opportunity to springboard into the UK and European markets.”
Howard F. Curd, President of Uniroyal, added: “Rarely do we find two companies in the same industry that fit together so well as Uniroyal and Wardle Storeys. We are excited about the opportunities before us.”
Gary Houghton and Tom Pennington from Baker Tilly provided corporate finance advice to Uniroyal on the acquisition.
The legal team at Brabners Chaffe Street also included Tom Burton, Claire Gregory, William Ngan, Paul Nicholls, Rachael Kirkup and Emily Mort.
Jon Kenworthy, Anna Hopper and Richard Blackburn of DLA Piper acted for the sellers.