Scunthorpe-based Premier Sealant Systems was acquired by Red Coast Industries in a deal backed by Shawbrook Bank. It's the first investment for Red Coast Industries which was spun off in 2022 by Banvest, a family run investment group, to identify industrial sector investment opportunities where it can utilise its team’s expertise to add direct value.
Premier Sealant Systems manufactures profiled foam fillers and sealing products used in the roofing, cladding and maintenance sectors.
Founded in 1994, Premier has had 30 years in the industry, as a leading supplier of core sealing products and has cultivated strong working relationships with the nation’s largest roofing manufacturers and contractors.
In 2018, managing director Stewart Morgan joined the business and with the management team has delivered growth, which Red Coast will now build on.
Stewart said: “This deal marks an exciting new stage in the evolution of our business. For over 20 years we have prided ourselves on producing high-quality goods for the UK’s biggest roofing manufacturers and contractors. Our approach and commitment to providing industry leading service, quality and knowledge has helped us become the nation’s leading supplier of core sealing products.”
Peter McLintock, partner who led the Mills & Reeve team advising Premier Sealant Systems, said: "The team at Premier Sealant Systems has grown the business into a sector leader in the UK and, as part of Red Coast Industries, the company will have an ideal platform to achieve its growth aspirations as it enters a new chapter in its development.”
The Mills & Reeve team included Christina O’Brien, Charlotte Bull, Ross Buckingham, Camilla Highmoor and John Khan.
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