GVG Corporate Finance Advisors advise Erwin Renz Metallwarenfabrik GmbH & Co. KG on the acquisition of The Safety Letterbox Company, UK.
Wiesbaden, 16 July 2012
The Safety Letterbox Company, a leading UK-based manufacturer of mailing systems, has been acquired by the German mailbox expert RENZ in an alliance that brings together more than a century of experience and technical expertise within the mailbox industry.
The acquisition, which was completed in mid-July, is seen by both family-run businesses as a ‘positive step forward and perfect fit’ that will further strengthen the South Wales-based firm’s mailbox brand competiveness in both its home and international markets.
SLB Chairman Ian Brown MBE, who founded the company in 1986, remains as technical consultant. He said: “The future of SLB will be further enhanced by the RENZ Group, allowing both parties to share knowledge, products and expertise to provide customers with the total mail delivery package in the future.
“Together we can push the boundaries in mail delivery and product design to provide customers with secure, high quality products for any site profile and budget worldwide,” he added. His daughter Alison Orrells will continue in her Managing Director role at the Neath site, which will continue to operate as an independent subsidiary of the RENZ Group - Europe’s leading mailbox manufacturer and now in its 87th year.
After 27 years’ mailbox manufacturing in the UK, SLB’s owners recognised that the RENZ Group’s European strength could provide the necessary support to build on SLB’s existing success and take it to the next level of growth.
Welcoming the acquisition, Alison emphasised it is still very much ‘business as usual’, saying: “Joining forces with RENZ is a very positive step forward for us which increases our capability to deliver the most competitive solutions for any mailbox requirement, strengthening both our excellent market position here and supporting our international growth.
She continued: “Like us, RENZ is a family-run business and we share the same ethos, vision and goals – making this alliance a perfect fit. Through this shared commitment, we can capitalise on our experience and knowledge to offer customers the best possible choice, price and quality.”
Alison added: “RENZ holds a very strong position across Europe on the professional mailbox systems market, while SLB has a very loyal customer base across the private and public sectors in the UK. This alliance safeguards local jobs at our manufacturing base in South Wales, as well as opening up tremendous exciting opportunities for the future.”
Commenting on the acquisition, RENZ Group CEO Armin Renz highlighted the strengths of their shared values, adding: “SLB has a successful history and has become a strong UK brand with great international potential. RENZ is also a family-owned company so our business philosophies and approach fit well together, in turn creating a solid platform from which to develop new growth strategies for the future.”
GVG Corporate Finance Advisors has acted as exclusive financial advisor to Erwin Renz Metallwarenfabrik GmbH & Co. KG. This is our third transaction for Renz after the acquisition of Me-Fa A/S in 2010 and the acquisition of a majority stake in CombiPlate AB, Sweden in March 2012
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