Benchmark International is delighted to announce the sale of Doncaster-based Swedex UK to York-based Abracs Ltd.
Established in 2003, Swedex UK is a distributor of carbide tipped circular saw blades, sold to other distributors and sawmills throughout the UK. It has an exclusive supplier agreement with Swedex AB, which was founded in 1983 in Mjölby, Sweden, and is a manufacturer of circular saw blades.
Established in 1989, Abracs Ltd are one of the UK’s leading brands of abrasives and power tool accessories. The company holds the UK’s most extensive cross section of PTA products which enables it to cater for virtually all industrial markets. The acquisition of Swedex UK and its exclusive access to Swedex AB’s products will be an excellent addition to complement Abracs' existing product portfolio.
Speaking about working with Benchmark International, ex-Shareholder and Finance Director at Swedex UK, Carol Neal, commented: “Regarding the sale of our company, Benchmark were fantastic! Andrew helped us through the process, advised and assisted us through the maze of legislation and was on hand with any queries we had. Selling our company was never going to be easy, but I dread to think how much more difficult it would have been without Benchmark at our side. Benchmark kept us informed of all potential buyers and the best one with a good offer was found within a short period of time. From the first contact, through advertising and then on to completion everything went smoothly. I would definitely recommend Benchmark to assist you in the sale of your business or company.”
Andrew Roberts of Benchmark International said: “It was an absolute pleasure working with Carol, Graeme, Swedex AB and Abracs on this transaction and I’m delighted we could get it over the line in less than two months following the agreement of the Heads of Terms. I have no doubt Abracs will be an excellent home for the business and I would like to wish Carol and Graeme a very happy retirement.”
Benchmark International advised Swedex UK on the deal. Phil Stephenson at KBL acted as the sell-side solicitors. Ward Hadaway acted for the buy-side.
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