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MBO and acquisition finalized at J-Flex

The takeover of Nottinghamshire-based J-Flex, led by chief executive Sam Kirk and chief financial officer Chris Barnes, sees the creation of a new parent company – Clockpress Holdings, which the new owners plan to use as an investment vehicle to acquire other owner-managed SMEs and further grow the business through job creation.

Sam Kirk explained, “J-Flex has changed significantly over the past two or three years, and while exploring acquisition opportunities for J-Flex, John and Jill expressed an interest in possibly exiting the business.

“We are delighted to have reached an agreement that allows them to achieve this, without impacting other acquisition plans and ensuring business continuity, as well as the possibility to develop successfully.

“J-Flex has a team of truly talented people who can take the business to the next level, while maintaining the legacy the original owners created.”

The deal marks the first of several expected acquisitions for Clockpress Holdings, with its second deal already completed to acquire the majority share capital of Composites Evolution – a manufacturer of prepregs and innovative materials for the composites industry in Chesterfield.

Sam said J-Flex and Composites Evolution already share a “similar business approach” and are currently working with several joint customers in the aerospace and automotive industries.

Composites Evolution will continue to operate as a stand-alone subsidiary with its existing staff.

Gordon Bishop, Managing Director of Composites Evolution, added: “We are delighted with the agreement reached with Clockpress Holdings. There is already great synergy in the products, markets and business approach of J-Flex and Composites Evolution, so it only makes sense that we can now join forces and combine our expertise in this way.

“We are seeing rapid growth in demand due to our market-leading prepregs and short lead times, and we very much look forward to working with Clockpress Holdings to meet this demand in the months and years to come.”

Clockpress Holdings said its first two acquisitions were just the start of the company’s development and that negotiations for similar agreements are already underway with several other manufacturing companies, which will see J-Flex’s legacy in Retford continue.

Transactions for both acquisitions were supported by Neil Roberts, Antony Voakes and Amy Weston of Wright Vigar Chartered Accountants and Azam Zia of Zia Harman Solicitors.