Talana Plastics was founded by Trevor Ballard in 1987 and rapidly gained a reputation for excellence in the field of technical injection mouldings, supplying precision products to a wide range of customers including the medical, electrical and leisure industries.
As the main shareholders of the family business approached retirement, the directors sought the professional advice of BTG McInnes Corporate Finance on the options open to them. The underlying strength of the business and its excellent reputation in a niche market indicated that a good sale was achievable, even in the throes of recession.
A deal was completed at the end of May and Talana Plastics is now part of HWH Holdings, a new company under the ownership of Steve Hall and Ian Hunter. The company will continue to operate from its 9,000 sq ft manufacturing base at Fareham Industrial Park and the existing 16-strong workforce has been retained.
“Aside from the value achieved for the shareholders, the most rewarding part of this deal is the knowledge that the new owners have first-hand knowledge of the plastic injection moulding industry and are well-placed to build on Talana’s strengths in a niche market,” said Rosemary.
“It may take a little longer to achieve the best outcome for a business sale in the current economic climate, but there are still positive deals to be done for well-run companies with strong order books and good future prospects.
“I wish the staff at Talana Plastics and the company’s new owners every success.”
BTG McInnes Corporate Finance is part of the Begbies Traynor Group which opened a new Portsmouth office at 1000 Lakeside last month.
Julie is a law graduate who qualified with Price Waterhouse in 1994. Julie joined Smith & Williamson in 1997 and became a partner in 2001. With Mike Stevenson, Julie set up Middleton Partners offices in Salisbury and Southampton, both of which are now part of Begbies Traynor.
Julie is a member of the Insolvency Practitioners Association and is a Fellow of The Association of Business Recovery Professionals. Julie deals with all aspects of Corporate Recovery and turnaround work and takes all form of personal insolvency appointments.