DUESSELDORF, Germany—England consultancy Prea Ltd. of Manchester recently has helped to find new owners for Slovenia-based rubber molder TGK (Tesnila, GK doo), according to Pravin Mistry, Prea's global CEO.
The Northwest England company offers recruitment and consultancy services to a range of polymer industries, including providing advice on mergers and acquisitions.
Located in Prevalje, Solvenia, TGK was a family-owned rubber injection molding company supplying the automotive industry in Europe, and operating as a "real center of excellence," said Mistry, a polymer technology and science graduate from Manchester Metropolitan University.
"The business was very successful but there were no heirs to the throne, and the owners wanted an exit strategy over a time period," he explained. A prerequisite was that the owners wanted the manufacturing plant to stay where it was, retain the work force and grow."
The Manchester firm was, therefore, engaged to advise and assist with a restructuring and then to plan an exit strategy for the owners.
"There were several offers, and the most appropriate was from a private investment firm, which was mutually beneficial for both parties," Prea reported, without identifying the buyer.