Panoramic Growth Equity (“Panoramic”), the leading equity investor in fast growing, entrepreneurial companies, today announced that it has invested in speciality chemicals manufacturers Majestic Polymers Limited (‘Majestic’) and DSA Chemicals Limited (‘DSA’). This is the fifth investment for Panoramic Growth Fund 2 and marks Panoramic’s first investment into the UK’s chemical industry.
Doncaster based Majestic and DSA have over 35 years’ experience in the speciality chemicals industry. Majestic focusses on the development of speciality adhesives for use in a wide range of sectors. DSA specialises in blending and formulating oilfield chemicals. Majestic and DSA’s strength lies in their ability to develop unique chemicals which perform specific functions in challenging environmental conditions.
Panoramic is backing co-investors and incoming Managing Director Mark Briscoe and Operations Director Peter Weaver. Panoramic’s investment supported the acquisition of the businesses along with management’s plans for organic growth. Funding will enable the businesses to increase capacity to take advantage of a number of domestic and international growth opportunities.
Mark Briscoe has over 30 years’ chemicals industry experience, most notably as Managing Director of high temperature materials manufacturer Saffil where he successfully led the sale of the business to US speciality products manufacturer Unifrax in 2011. Peter is an experienced operations professional having worked for large corporates including FMC Corporation and Astra Zeneca.
David Wilson, partner at Panoramic, commented:
“We are delighted to support Mark and Peter in the acquisition of Majestic and DSA. We were excited by the prospect of supporting two well-established businesses which service high profile customers in the UK and abroad and were very impressed by the quality of the existing management team and operations. Mark and Peter have excellent chemicals sector credentials and alongside current management will form a strong team to take the businesses to the next stage of their development. The chemicals industry plays an important role in the UK economy and we are delighted to assist with its progress through our investment in Majestic and DSA”.
Panoramic’s investment into Majestic and DSA was led by Partner David Wilson and supported by Investment Manager David Atkinson. Panoramic were advised by Sean Kelly and Jennifer Evans of lawyers Pitmans. Consilium Chartered Accountants provided Financial Due Diligence through David Holt and Linzi Wilson. Management were advised by Jeremy Cole of Manchester based Cole Associates Corporate Finance and legal advice provided by Paul Ellaby of DAC Beachcroft. Debt funding was provided by HSBC through John Gibson in their Liverpool office.