Sale of Stanref International Limited
Ensors’ Corporate Finance team are pleased to announce their involvement in the sale of Stanref International Limited. The company has been acquired out of administration by DAMSLE LLP, a privately financed investment house specialising in supporting SME’s in East Anglia and the Home Counties.
Stanref, which is based in Bury St. Edmunds, is a long standing manufacturer of pressure vessels and heat exchangers for the refrigeration industry, as well the oil and gas sectors.
Ensors were initially engaged with the firm in July 2017 when it was going through a prolonged period of financial difficulties. Ensors advised the company on its current viability and the potential options available to the directors going forward. It was quickly decided that best result for the future of the company would be to enter administration and attempt a sale.
The Ensors team then provided step by step advice to the company as it went through the sale process. This included a brief marketing campaign which made use of the firm’s extensive list of contacts in the M&A sector, and attracted several offers for the business. Ultimately the offer from DAMSLE was accepted and the deal completed in less than four weeks from the start of the sale process in September.
DAMSLE will now support Stanref as it attempts to reform and refocus. The aim is that it can then start to build on its already excellent reputation and begin to expand.