Merger JBT aquires Proseal in £ 220 mill. deal
The deal will allow Proseal to further expand its business by providing access to JBT’s global sales and service network. Closing is expected in the second quarter of 2019. Dow Schofield Watts Corporate Finance and Spinnaker Corporate Finance advised on the deal.
Under the terms of the deal, the management team which is led by the founders - Steve Malone and Robert Hargreaves - will remain in place and the Proseal brand will also be retained.
Commenting on the deal, Steve Malone stated: “We are delighted to announce that Proseal is to become part of JBT, which will significantly enhance our global presence. This deal will ensure Proseal’s continued growth and success through access to JBT’s global sales and service network, enhancing our customer support overseas as well as growing our business into new markets.”