The Swindon office of corporate finance specialist Watersheds has completed the sale of UK refrigerated display equipment manufacturer Manor Concepts to a multinational corporation.
The £15m turnover Bedfordshire business, whose products are used in supermarkets and food and drink retailers, has been acquired by the Italian-based global retail equipment company Arneg, which turns over more than €500m (£353.5m).
Watersheds was tasked with selling Manor Concepts to a strategic buyer, enabling the shareholders to leave while providing a platform for growth. 
A match was found in Arneg, a company with a strong pedigree in the industry having been established in 1963 and now operating 20 factories and 11 commercial offices in 25 countries. The deal was concluded within nine months.
Watersheds identified the shared characteristics between the two businesses, including innovation, customer service and complimentary areas of operation in the UK market. Arneg's product range includes cabinets, shelves, checkouts and cold rooms.
Watersheds’ Swindon director Sue Green, pictured, said: “The strategic fit was clear from the start. While selling to large overseas buyers can be complex and challenging, it can offer a near perfect result for the shareholders, the company and the staff. I am confident that the acquisition by Arneg is just the start of an even greater future for Manor Concepts and its people.”
Watersheds, which also has an office in Northampton, worked closely with Manor Concepts’ management team through the detailed negotiations.
Manor Concepts managing director Michael Tucker said: “The support and guidance from Watersheds throughout the whole process was invaluable. By keeping us involved, as needed, and well informed, we were also able to carry on with the normal business activities, with a successful outcome for all concerned.”
Legal and accounting advice to the shareholders was provided by Bedfordshire firm Machins Solicitors and Graham Keeble Partnership, while Arneg was advised by C W Downer, the global Investment Bank specialising in comprehensive middle-market merger and acquisition advisory services.
Pictured: One of Manor Concepts’ refrigerated display units 
