CooperBurnett has advised local injection moulding and thermoplastics company, Target Plastics (Kent) Limited, in its recent acquisition by Gard Plasticases Limited. Both companies are based in East Peckham, Kent. The business going forward will be known as Target Plastics (EP) Limited.
The deal has provided an exit route for Target Plastics’s owner, Ted Taylor, who will remain with the company as a consultant for a period. Ted’s son Chris is also staying with the company, in his role as Production Director.
Target Plastics manufactures technically demanding mouldings for a wide variety of industries, including petro-chemical, medical, electronic and marine. Its products are an eclectic mix, ranging from bowls for jellied eels through to portable toddler’s toilet seats for the Hong Kong market.
“There is an obvious synergy between Target Plastics and Gard Plasticases. The companies have been dealing with each other for the last three years with the ultimate aim of achieving this sale and purchase,” says Victoria Sampson, a partner with CooperBurnett, who advised Target. “We have worked with Target previously and were delighted to be retained to advise Target on the sale. I really enjoyed working with Ted Taylor again and am pleased that we managed to facilitate the sale and his exit, which fulfilled the goals he had.”
Adds Ted Taylor from Target Plastics: “We were very happy with the work which Victoria did for us on the deal. Although the deal was relatively straightforward, in that we already knew Gard Plasticases and were able to discuss things openly with them, Victoria guided us through the process really well. I have achieved the exit I was hoping for and will enjoy watching the business continue to prosper under its new owner.”
Target’s buyer, Gard Plasticases, was established 40 years ago and manufactures plastic cases, executive cases, flight cases, small boxes and bespoke case inserts etc. Gard deals with industries that include aerospace, military, medical, promotional, photography and automotive.
“It was very much a local deal, which was great – with James Partridge, a partner with Thomson Snell & Passmore advising Gard Plasticases,” says Victoria. “Between us, we worked well together to get the deal done. The buyer and seller already had an excellent relationship and that carried through to the deal process, with us all working hand in hand to achieve a similar goal.”