DTE Corporate Finance Facilitates Sale of Vatre Group Limited to Griffon Corporation
- Monday, December 2, 2019
DTE Corporate Finance acted as lead advisor to the shareholders of Vatre Group Limited, a national UK supplier of innovative garden pottery and associated products, on its sale to Griffon Corporation, a global, US-based business, wishing to expand their consumer offering in the UK.
The Vatre Group, trading as Apta, has developed its market presence and brand over a number of years, under the stewardship of Paul Sykes. Its national presence and market dominance in its chosen sectors made it an extremely attractive target for the Griffon Corporation who have been courting Apta for many years.
Following the sale, Apta’s main shareholder and Managing Director, Paul Sykes, will remain in his role for the foreseeable future to help continue the growth of Apta under its new ownership.
Paul Sykes said: ‘delivering the Apta deal and achieving value for the shareholders was due in no small part to the excellent work and tremendous commitment of the DTE Corporate Finance & Hill Dickinson teams. Even under pressure the teams never wavered, always providing sound judgement and solutions to the inevitable issues associated with selling to a purchaser listed on the NYSE.
Andy Humphrey, DTE Corporate Finance Director, who, with the support of Luke Seymour and Lewis Pearson, advised the shareholders of Apta, said: ‘It was a pleasure to work with Paul and the team at Apta, helping to secure the future of the company which is now ready to embark on the next part of its journey. Apta is a fabulous company and we look forward to seeing it develop over the years to come’.
Alongside DTE Corporate Finance, legal advice was provided by Jonathan Gillow and Katie Somerville of Hill Dickinson. Jon said: “we are delighted to have helped complete this transaction for Paul and the other shareholders. With the acquiring business being located in, and operating out of, the USA and Australia, it is really encouraging to see continued investment into another successful UK business notwithstanding the present uncertainties they face. We wish Griffon and Apta all the best for the future”.