The sale of Redhill Bearings
Based in the South East, Redhill Bearings had lots of opportunities to offer the buyer that set them apart from similar sellers on the market. Their USPs included being the official distributors of specialist industry products such as Fenner Power Transmission, Loctite Adhesives and CODEX bearings.
As stockists of a huge range of leading brands, Redhill Bearings were an ideal addition to CFTEN, an established manufacturing company that specialise in deposition machines for the IC industry.
The CoGoGo Deal Executive involved in this sale said, “The gentleman I dealt with through this transaction was representing the buyer who resides the United States. The overseas buyer owns a few UK companies including CFTEN and he felt that Redhill Bearings would be an excellent fit”.
After a first offer was made in November 2022, the sale was completed in a record-time of four months, beginning to end.
The CoGoGo Deal Executive went on to say, “With the purchaser living in the US, it did bring some additional challenges, but it was nothing we couldn’t handle! For example, all discussions with the purchaser had to take place later in the day due to the time differences”.
CoGoGo would like to wish CFTEN all the best of luck with their expansion, the team can’t wait to watch the company go from strength to strength.
