Canadian firm strikes deal for Birmingham manufacturer
Decisive Dividend Corporation (DDC) has acquired 100% of ACR Heat Products, a Birmingham-based manufacturer of wood, gas and electric stoves.
DDC is a publicly traded Canadian company whose shares are traded on the TSX Venture Exchange.
The company is focused on acquiring market-leading, cost-effective, high-quality manufacturing businesses. The acquisition of ACR is complementary to DDC’s existing platform company, Blaze King, which operates across North America.
Tony Ryan, President of ACR, said, “ACR has a rich history and I am proud of what we have achieved since our beginnings over 30 years ago. We are excited to see how the business can continue to grow under DDC ownership. It was a pleasure to work with DDC throughout the process – their strong values, principled approach and drive to continue developing innovative products were key factors in the decision to partner with DDC. I would also like to thank the commitment and dedication of the Heligan Corporate Finance team, we could not have completed this transaction without them.
Colin Strevens, Partner at Heligan Group, said: “It has been a real pleasure to work on this cross-border deal. The team has reason to be proud of its accomplishments and Heligan is happy to have been part of this particular phase of its journey. ACR is well managed, very profitable with a clear succession plan and these characteristics continue to attract foreign buyers.
Colin Strevens, Matt Croker and Alex Neale of Heligan Group (Corporate Finance) and Clare Lang and Matthew Allen of MFG (Legal).
Higgs (legal), MLT Aikins (legal) and Mazars (financial and tax due diligence).