Rubber firm expands with takeover

A Shropshire rubber engineering specialist has expanded with the acquisition of another firm in the sector.

Wem-based DKL Rubber has acquired Medcraft Bryden, a Cambridgeshire specialist rubber engineering business for an undisclosed sum.

DKL Rubber was launched in 1988 and began by providing high specification rubber mouldings.

It started discussions with Medcraft Bryden in 2015 to enable it to extend its range of services, and directors Robert and Ian Oakes said the acquisition would be beneficial for the long-term success of the business.

“We had known of Medcraft Bryden for a while and were impressed with the range of services that they offered, believing that these would be a good fit with the work we already carried out at DKL,” said Mr Oakes. 

“However, as two relatively small enterprises with day to day business commitments to focus on, it took until earlier this year for those conversations to really start focusing on the desired result.”  

For the foreseeable future, both the Wem and Cambridgeshire sites will be maintained and it is anticipated that cross-selling will be possible across each base. 

As a result of the acquisition, two additional members of staff have already been appointed to work from the Wem base. 

Negotiations were overseen by Stuart Rea of FBC Manby Bowdler.

“The acquisition of a small business needs to be handled with care and sensitivity given that the firm is often the vendor's life work and often a family concern as well,” said Mr Rea.

“Robert and Ian were mindful of this and approached the transaction with the necessary time it takes to ensure that all parties were comfortable with how things progressed. 

“Their acquisition of Medcraft Bryden, a firm three times their own size, places them in a very favourable position to not only extend the reach of each businesses’ distinct product and service portfolios, but also prepare them for further growth which I don't doubt we'll see from them in the coming years.” 

 PICTURE:: Robert Oakes, left, and Stuart Rea