16 October 2007
16 October 2007
Amber Composites and Technical Resin Bonders, manufacturers and suppliers of composite materials and structures, have been purchased by a consortium of international investors focused on leveraging technology to increase efficiencies in the transportation and energy industries.
The transaction is intended provide the companies a strong foundation for growth and expansion.
Established in 1989 by Gavin Clarke and Stuart Crosskill, the group of companies has become an industry leader based on its ability to provide high quality materials and components on a just-in-time basis. Both Dr. Clarke and Mr. Crosskill will remain as shareholders and advisors to the business, reflecting their confidence in the new investor group and the opportunity going forward. “We are delighted to be partnering with a well-funded team that will help expand our business scope.”
The private equity consortium, led by U.S. entrepreneur Jonathan McQueen, will be seeking to further expand technical and production capabilities, and to diversify into new and emerging markets. Mr. McQueen will be taking the helm as CEO. Commenting on the opportunity, Mr. McQueen said “We chose these companies because of their proven product and technology expertise as well as their strong management teams. The use of composite materials is expanding rapidly and we are well-positioned to capitalize on this growth.”
The transaction was led on behalf of the vendors by Matthew Proudlove, Corporate Finance Director at Cooper Parry LLP, who commented: “Gavin and Stuart have established two exciting businesses with committed management teams. Jonathan McQueen, with his experience, enthusiasm and international contact base, is the perfect succession to continue the growth trend.”
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