Lancashire-based Plastic and Rubber Group (PAR), a family-owned manufacturer and supplier of engineering plastics, insulation and rubber products into a wide range of markets, has been acquired for an undisclosed sum by R&G Fluid Power Group in a deal advised by accountants and business advisors Beever and Struthers.
Headquartered at Bridge House, Chorley North Industrial Park, Chorley, Lancs and with facilities in Manchester, PAR provides bespoke services including plastic machining, plastic fabrication, waterjet cutting, CNC profile cutting, industrial stitching and rubber moulding.
These services allow PAR to manufacture products such as gaskets, rubber mouldings and precision-engineered and fabricated components. In addition to its bespoke engineering capabilities, PAR also stocks and distributes an extensive range of hoses and fittings which fit perfectly into the core offering of R&G Fluid Power Group.
With more than 40 years of experience and a track record of growth with strong margins, PAR has earned a reputation for excellence as a trusted supplier globally to most market sectors, including food and drink, pharmaceutical, water treatment, chemical, aerospace, and power generation.
With UK facilities also in Manchester and Preston, R&G Fluid Power (a division of Diploma PLC) offers unrivalled expertise, experience and product knowledge of fluid power products and systems for industry. Established in 2017, R&G has 40 UK divisions providing bespoke engineering, gaskets & seals, hose & couplings, hydraulics, and pneumatics.
Diploma PLC is an international value-add distributor of specialised products and services in the controls, seals, and life sciences sectors.
PAR will form part of Diploma’s UK aftermarket business in the seals sector, adding scale to R&G's Seal & Gaskets division.
As with all R&G businesses, PAR will continue to operate under its current brand and existing locations with the same commitment to customers and colleagues.
The PAR directors will continue to lead the PAR business and work with their new colleagues at R&G to help develop and integrate PAR with R&Gs existing plastics and rubber businesses.
The PAR directors said: "We have developed our company over the past 20 years, strategically investing in employees, systems, machinery, facilities, and developing engineering expertise. Becoming part of R&G Fluid Power Group gives assurance and enables accelerated growth, providing opportunities and security for our company and all PAR staff for the future."
Dean Curtis (pictured), corporate finance director at Beever and Struthers, added: “PAR is a longstanding client of Beever and Struthers, the shareholders have built a successful business and achieved substantial year-on-year growth and profitability. Having advised PAR on various acquisitions over the years, it's been a pleasure to have advised the shareholders.
“PAR’s expertise, customer proposition and reputation complement and enhance R&Gs existing capabilities, it’s a fantastic addition to the R&G Group. We look forward to seeing the business grow and flourish as part of the larger Group.”
The team at Beever and Struthers was led by corporate finance director Dean Curtis and executive partner Caroline Monk, with support from corporate finance manager Patrick Wilson, tax partner Ann Bibby and tax manager Simon Barratt.
Legal advice was provided by Napthens, led by corporate partner Robert Dobson and senior associate solicitor Craig Whittingham.
Stevens & Bolton provided legal advice to R&G and Diploma PLC, the team being led by corporate partner Joe Bedford and managing associate Krishna Patel, with support from associate Ulugbek Gomes-Pessoa. Eight Advisory provided financial and tax due diligence, the team being led by partner Daniel Parsons.
Beever and Struthers previously advised PAR on its acquisitions of Guildford-based Aquarius Plastics Ltd in 2023 and Birmingham firm Mountford Rubber and Plastics Ltd in 2022.
Most business owners will consider selling their business at some time. A sale can help owners enjoy the benefits of their hard work, while looking after employees and preserving their legacy.
The process can be daunting and complicated but Beever and Stuthers is there to help. Its team provides a personal service with straightforward and honest advice to help business owners achieve their goals.