International Firm Acquires SWS

The Sheffield office of Irwin Mitchell has combined with BHP Corporate Finance to deliver a deal which sees the shareholders of Solvents with Safety Limited (SWS) realise the value of their investment in a sale to Tradebe for an undisclosed sum.
 
SWS is a longstanding Yorkshire business and it has developed into one of the UK’s leading suppliers of packaged virgin and recovered solvents to the automotive refinishing market, both in the UK and overseas.  It was founded in the early 1980s and under the ownership of Keith Wilson, has a long and successful track record in providing customers with a complete solution from solvent sales through to blending and waste collection.  Following a period of sustained recent growth, annual turnover is c.£9m and the business employs 35 staff.
 
Tradebe is the UK market leader in hazardous waste management services. Tradebe holds also a leading position in Spain and the US, and has subsidiaries in France and Brazil. The company operates more than 72 treatment and recycling facilities across the markets where it is present.  In 2013 total revenues were c.€400m and it employed in excess of 2,000 people worldwide.
 
David Forrest, supported by John Longstaff and David Bellamy, from BHP Corporate Finance acted as lead advisor to the vendors.  Matt Ainsworth and Michael Hall from the Sheffield office of law firm Irwin Mitchell provided legal advice.

Keith Wilson, Chairman of SWS, commented “SWS’ success has been built on a value added product offering and outstanding customer service overseen by an excellent and committed management team led by managing director, Brendan Pope.  I believe we have found the perfect home for the business to continue its progress as part of the Tradebe group.  I must say a big ‘thank you’ to our advisors, BHP Corporate Finance and Irwin Mitchell, who worked tirelessly to manage a tight process and ensured the deal progressed smoothly and happened on time”.

David Forrest, partner at BHP Corporate Finance, commented, “we are delighted to have had the opportunity to work with SWS’ shareholders to find the right strategic partner for the business.  As we expected for a high quality business like Solvents, we had a significant amount of interest.  We are pleased to have agreed a deal with Tradebe who emerged as the outstanding strategic partner.  The two business fit together perfectly and I have no doubt that under its new ownership, SWS will continue to go from strength to strength.  This deal is further evidence of how Yorkshire’s niche businesses are capitalising on the growing opportunities afforded by international acquirors looking to secure quality UK assets”.