HMT LLP advised Chiltern Capital on the carve out of UK’s largest manufacturer of HVAC ductwork jointing systems and ductwork components, Doby Verrolec Ltd.
Headquartered in County Durham, Doby Verrolec designs, manufactures and distributes ductwork components, suspension systems and other roll-formed products. The extensive range of HVAC accessories includes flanges, corners, clamps, gaskets and their patented DobyGrip suspension system.
As the largest manufacturer of ductwork jointing systems in the UK, Doby Verrolec has been acquired by Chiltern Capital from the global manufacturing group, Heitkamp & Thumann, an independent group of internationally active companies in the metal and plastic processing industry, uniting different core capabilities for the efficient production of high-precision, close tolerance parts.
Chiltern has taken a majority stake in the company and will play an active role in supporting Malcolm Moss (Managing Director) and Terry Dingley (Works and Technical Director) to accelerate growth.
HMT undertook financial due diligence for Chiltern Capital on this transaction.
David Butler, Investment Manager at Chiltern Capital commented:
“Paul, Corin and the rest of the team were fantastic during the carve out of Doby. Their advice was clear and concise, and they were highly flexible and communicative throughout. We look forward to working with them again in the future.”
Paul Read commented:
“We are delighted to have advised on another corporate carve out completed by Chiltern Capital. The business has an enviable market-leading position in the niche manufacturing sector and Chiltern’s investment will enable Doby Verrolec to realise their growth ambitions. We look forward to working with them again in the future.”