Orbis Advises On The Cross-Border Sale Of United Moulders To Drew Marine Inc
Orbis Partners were engaged by International Process Technologies (IPT) to identify a trader buyer for its business, United Moulders.
Today Orbis Partners announces that it has finalised the sale of United Moulders to New-Jersey-based Drew Marine.
United Moulders designs, markets and sells inflation systems and ancillary products to marine life jacket manufacturers worldwide. It is the market leader outside of the USA and is sole supplier to the UK Ministry of Defence (MOD).
Drew Marine is a global leader providing technical solutions and services to the marine industry with a comprehensive line of advanced marine chemicals, and equipment. Supported by a worldwide network of service engineers, and global supply chain delivering to more than 900 ports, the business has a portfolio of products and services including water treatment, fuel treatment, tank and hold cleaners, general maintenance & sealing, welding & refrigeration and firefighting, safety & rescue.
United Moulders will join the ACR Electronics Inc (ACR) a division of the Drew Marine Inc business. ACR designs and manufactures cutting edge rescue beacons and survival products for the marine, aviation, outdoor and military markets.
The advice given by Orbis, along with their professional approach to the deal ensured we found a buyer that would enable United Moulders to develop and expand.
Jeremy Stoke, Chairman
We’re delighted to have concluded the sale of United Moulders, there are excellent synergy benefits to be gained by combining the two businesses. We are very pleased with the outcome which we were able to achieve for our clients and United Moulders will now have the opportunity to further develop within the larger Drew Marine group.
Legal advice to IPT was provided by Burges Salmon in Bristol.