03/05/2017

Constant Equity gets a slice of the action acquiring Corby-based Keencut

Howes Percival LLP has successfully advised Northampton based private equity firm, Constant Equity, in relation to its acquisition of a majority stake in Corby-based manufacturer Keencut. The company, which makes precision cutters for the digital printing industry, now has the backing to push forward with ambitious expansion plans.  These will include new product development and export sales growth.

Professional support for the acquisition came from corporate lawyers Gerald Couldrake and Matt Thompson, assisted by Ben Mousley and Hannah Pryce from the team’s property and employment teams respectively. Constant Equity also received due diligence support from Grant Thornton’s corporate finance team (Mark Clement and Shane Line) and from Caspar Wood (international market research).

Constant Equity director Paul Moxon will become Chairman of Keencut, and will be joined on the board by international sales and marketing specialist Phil May, who worked with Paul at auto products company U-POL.

Paul Moxon noted: “Keencut is a great British success story. It has a world-leading brand, based on innovative design and top quality manufacturing. With smart investments in growth areas, we believe the business is well-placed to boost its presence on the world stage. We really enjoyed working with the team at Howes Percival who helped deliver the deal under a tight timescale, without compromising on the commercially focussed advice needed for an acquisition like this”.

Keencut director Emma Lockwood will join them on the holding company board. She said: “Keencut has a great team of people who produce fantastic quality products. With this new investment, and the huge experience that Paul and Phil bring to the table, we have exciting growth opportunities ahead of us.

Commenting on the deal, Gerald Couldrake noted “We are delighted to have assisted Constant Equity in relation to its acquisition. Howes Percival has been advising clients in the manufacturing sector in and around Northamptonshire for decades, both in relation to acquisitions and disposals. With Paul now on board at Keencut, we look forward to continuing to work with him and the team at Keencut as it continues to grow from strength to strength over the next few years”

If you are thinking about acquiring a business, or are thinking about exiting your own, please contact Gerald Couldrake on 01604 258011 or by email at gerald.couldrake@howespercival.com.