Stevens & Bolton’s corporate team has advised Diploma PLC on the acquisition, by R&G Fluid Power Group Limited (R&G), of Plastic and Rubber Group Holdings Limited (PAR) for approximately £38m.
Diploma PLC is an international value-add distributor of specialised products and services in the controls, seals and life sciences sectors. R&G, a Diploma group company, specialises in the supply of fluid power components to OEMs, distributors, systems integrators and end users in the UK fluid power industry.
PAR is a UK-based, family-owned supplier of specialist seals and gaskets into a broad range of end markets. Its value-add customer proposition has driven a track record of excellent growth at strong margins. It will form part of Diploma’s UK Aftermarket business in the Seals Sector, adding scale to R&G's Seal & Gaskets division.
Keval Thanki, corporate development manager at Diploma, commented “the sound advice and tremendous efforts from Joe, Krishna and the wider Stevens & Bolton team throughout the transaction have been key to guiding us over the line. It’s been a pleasure to work together and we look forward to working with them on future acquisitions.”
Joe Bedford of Stevens & Bolton commented “we are delighted to have advised the Diploma and R&G teams on the latest acquisition which is a great complementary business for R&G, and we look forward to seeing the Diploma group continue to grow.”
The Stevens & Bolton team was led by corporate partner Joe Bedford and managing associate Krishna Patel, with support from associate Ulugbek Gomes-Pessoa and included a multi-disciplinary team across the firm’s corporate tax, commercial, regulatory, real estate, employment and pensions teams.
Joe Bedford