29 October 2024, Derby, Midlands, UK — Dains is delighted to announce that it has advised Tidyco, a leading UK manufacturer and supplier of hydraulic and pneumatic products and assemblies to the rail industry, on its successful sale to Swedish-based Indutrade AB. Indutrade is an international technology and industrial business group based in Sweden that operates through more than 200 subsidiaries with some 9,600 employees in more than 30 countries across six continents.
Tidyco, a longstanding client of Dains, has been at the forefront of the rail sector, for over 50 years. Tidyco offers a broad range of products and assemblies, as well as the provision of overhaul services of specific systems to the UK rail industry. There is a strong focus on the aftermarket of rail rolling stock, but Tidyco also serves other industrial segments with its core offering such as the design and supply of commercial HVAC solutions and mobile hydraulic hose replacement.
Dains provided comprehensive support throughout the transaction, including the provision of corporate finance advice, accounting support and tax services.
The deal was led by Roy Farmer, Head of Corporate Finance at Dains, and supported by Lisa Richards, Constance Host and Brendan Shea, working closely with the Tidyco team to navigate the complexities of the sale. Tax support was provided by Adam Longmore and Rebecca Jones. Flint Bishop, led by Martyn Brierley, acted as the sell-side legal advisers, contributing to the smooth execution of the transaction.
James Tidy, Managing Director of Tidyco, commented:
"Having recently completed the sale of Tidyco with Roy Farmer, I want to express my sincere gratitude to the team at Dains. The whole process took approximately five months from start to finish. I took full advantage of the Dains 'one-stop shop’, benefitting from their expertise in business pre-sale preparation, IM production and analysis, sales negotiation, tax advice, integration with legal advisers, accountancy, audit, and most importantly, delivering the deal.
It has been a pleasure working with Roy. From a seller’s perspective, I have felt in safe hands all the way. There was never any drama—just cool, methodical, sensible, and measured responses backed up with sound facts and input from my business."
Roy Farmer, Head of Corporate Finance at Dains, said:
"We are delighted to have advised James and the team at Tidyco on this significant milestone. Tidyco is a fantastic business with a strong reputation in the rail industry. By identifying Indutrade as a strategic buyer early in the process, we were able to secure a deal that aligns with Tidyco's values and future aspirations. Achieving a pre-Budget completion was important for James, and we're pleased we could deliver this. We wish James and everyone at Tidyco continued success under Indutrade's ownership."
Martyn Brierley, Head of Corporate & Finance at Flint Bishop, said:
“We’re delighted to have advised the shareholders on this significant transaction. The legal process was completed within a tight 3 week timescale, which included a pre-sale re-organisation. We worked tirelessly night and day to see this transaction was closed ahead of the budget, saving the shareholders a significant sum given the following increases to capital gains tax. The acquisition not only highlights Tidyco's strong market position but also aligns perfectly with Indutrade's strategic vision for growth and innovation in the rail sector. We are proud to have facilitated a smooth but accelerated transaction that sets the stage for Tidyco's continued success under Indutrade’s ownership.”
At Dains, we believe in building strong partnerships and delivering bespoke advice that focuses on the results we achieve together. This deal exemplifies our commitment to understanding our clients' unique needs and guiding them through complex processes with confidence and expertise.
