PREMIER SEALANT SYSTEMS has been acquired by industrial investment firm, Red Coast Industries, for an undisclosed sum.

Premier Sealant Systems is a Scunthorpe-based manufacturer of profiled foam fillers and sealing products used in the roofing, cladding and maintenance sectors.

Red Coast Industries, lead by Omar and Yossuf Albanawi, secured the backing of Shawbrook Bank for this, its first acquisition deal. Red Coast was spun off in 2022 by Banvest, a family run investment group, to identify industrial sector investment opportunities where it can utilise its team’s expertise to add direct value.

Premier Sealant Limited Acquisition

Founded in 1994, Premier has had 30 years in the industry, as a leading supplier of core sealing products and has cultivated strong working relationships with the nation’s largest roofing manufacturers and contractors.

In 2018, managing director Stewart Morgan joined the business and with the management team has delivered growth, which Red Coast hopes to build on.

Stewart Morgan, Managing Director of Premier Sealant Solutions, said: “This deal marks an exciting new stage in the evolution of our business. For over 20 years we have prided ourselves on producing high-quality goods for the UK’s biggest roofing manufacturers and contractors. Our approach and commitment to providing industry leading service, quality and knowledge has helped us become the nation’s leading supplier of core sealing products.

Shawbrook Support

Shawbrook has provided Red Coast with a multi-million-pound flexible funding package which provided the acquisition funding and working capital to Premier to continue its growth trajectory. The previous owners of the company, John Burns and Peter Duffy, will be fully exiting the business.

The two parties were introduced by Prodipta Bhattacharya, managing director at US Capital Global.

Matthew Fannon, Director of Corporate Lending at Shawbrook, said: “It was a real pleasure to work with Stewart, Omar and Youssuf on this deal and we are delighted to have been able to put together a strong funding package which will not only support Red Coast’s acquisition, but allow Premier to build on its already stellar record of growth. Premier is already an industry leader in the core sealing space and is led by an experienced management team with a clear vision and strong foundational commitments to providing excellent products. We look forward to working with them going forward.”

Rob Fawke at Gunnercooke acted for Shawbrook on the deal and James Killing and Josh Davison from DSW conducted the Financial Due Diligence on the deal.

>> Read more of the latest news

The post Premier Sealant Limited Acquired by Red Coast Industries with Shawbrook Support appeared first on Roofing Today.