Date of issue: 27th July 2005

NO DIVISIONS AS INDUSTRIAL PARTITIONS FIRM CHANGES HANDS

Chartered accountants Clement Keys, Birmingham has advised on the purchase of Action Industries Limited, a Redditch-based company that trades as WRG Partitioning Systems and is a specialist in industrial partitioning systems.

Located on the Washford Industrial Estate, the business operates within a niche market sector, manufacturing modular industrial partitioning. Applications include offices, storage areas, factory dividing, machine and packing guards, security and protection barriers and pallet shelving.

WRG Partitioning Systems supplies bespoke products to solution providers within the industrial partitioning industry and racking sector plus catalogue standard products directly to the end user. The company also offers an installation service.

"Having run the business since they first set it up in 1996, the three owners were looking for a cost-effective and practical exit strategy which would enable them to retire," says Clement Keys partner Ross Cocker.

"Their aim was to leave the business in good shape, so that a new team could take charge of
the next stage of its development, and this would, in turn, safeguard the jobs of the 18-strong workforce."

Clement Keys, Birmingham acted for purchasers David Graham - who has a great deal of experience in the partitioning industry, including 17 years with a customer of WRG - and structural design engineer Ian Mason.

The firm advised on the acquisition of the company, developed the business plan, approached the sellers with a price structure for the acquisition, helped raise the finance, completed the structure and tax clearances and instructed solicitors for the purchasers. Clement Keys, Birmingham has also been appointed auditors of WRG Partitioning Systems going forward.

Thanks to a commitment to research and development, WRG Partitioning Systems has several new products in the pipeline, while the new owners' medium-term aims are to expand the product portfolio and develop existing customer relationships.

"Everyone is delighted that the deal has gone through so smoothly, not least the sellers, who approached David Graham because they know him well and believe he has the experience and drive to build on their achievements and make sure WRG Partitioning Systems remains a manufacturing success story," concludes Ross.