TLT has advised SEA Equity, a private investment firm, on their acquisition of Dycem, an innovative solutions provider for the contamination control and non-slip daily living aids market.
The transaction sees the business joined by a new managing director (MD), Stewart Cantley and new finance director Michael Bell (FD). Former MD and shareholder Mark Dalziel is staying with the business as a non-executive director, working with SEA Equity and the new management team in taking Dycem to the next stage in the company’s development.
Founded in 1966, Dycem is a world-leading manufacturer of branded polymeric contamination control flooring which is sold to a global blue chip customer base. In addition the brand is synonymous with non-slip products for the physiotherapist, occupational therapist and assistive products markets worldwide. The business today exports to more than 50 countries, has a turnover of around £7.5m and employs 55 staff based in key sites in Bristol in the UK, Rhode Island in the USA and an office in Cavite, Philippines.
TLT’s corporate partner, Jon Gill, who led the TLT team said: "We were delighted to support the SEA Equity team in executing this transaction, which continues to build their reputation as an exciting new player in the UK private equity market. The transaction is a good case study of their approach as a solutions driven investor, both in terms of financing structure and their ability to source management solutions. We look forward to supporting both SEA Equity and their new investee company in the future."
The transaction was led by SEA Equity's founding partners, Stani Schmidt-Chiari and Elliott Nicholson (both formerly of H.I.G. Capital). Stani Schmidt-Chiari commented: "Jon and the full TLT team provided us with excellent legal support throughout the transaction, delivering focused, pragmatic and commercial advice that greatly assisted in clearing the path to a smooth completion and positioning us for the next stage of the investment journey."