Gorvins Senior Associate, Gemma Lingard, has advised Manchester-based Manplas plastics through their acquisition by Coral Products.
As part of the deal, Coral will make a cash payment of £200,000 and issue 625,00 ordinary shares at a price of 16p.
Manplas provides custom manufacturing services for the production of vacuum-formed components and sheet plastic parts. With over thirty years of experience and expertise, they specialise in on and off-road vehicles, retail display, leisure, packaging and manufacturing sectors.
Coral Products, through its subsidiary companies, offers a range of specialised services centred around the production of plastic products. The acquisition of Manplas will expand its product range, especially vacuum-formed plastic parts.
Gemma and the Corporate Commercial Team guided Manplas through the transaction with the utmost care and support. Of the deal, Gemma said, “This was an exciting transaction to work on resulting in the successful sale of the Manplas Ltd. We wish Coral every success going forward with the Manplas business”.