23 January 2023
RSM’s M&A team has advised Rema Tip Top Holdings UK Limited (Rema) on its acquisition of Abracs 2013 Limited (Abracs).
Rema Tip Top UK is a leading provider of high-quality solutions for the automotive aftermarket, material processing and surface protection industries. Rema operates as a subsidiary of Stahlgruber Otto Gruber AG, a company with over €1.3bn in turnover and a presence in over 200 countries. Under new ownership, Abracs will become part of Rema’s automotive division, bringing new products to the group’s existing customers and opening new markets for existing group companies and products.
We led the transaction on behalf of Rema. This included deal origination, negotiation of price and key commercial terms, advising on deal mechanics and project management through to completion. This represents the sixth completed acquisition that RSM has advised Rema. Our due diligence (DD) team also provided financial and tax due diligence on behalf of Rema.
M&A team: Steve Hubbard and Rich Winter
DD team: Phil Parkes, Mark Leyland, Gavin Starkey, and Katie Harker (FDD), and Sanjay Pugal and Owen Wheeler (Tax)
‘RSM’s extensive knowledge of the M&A market meant they identified existing owners would be receptive to an off-market approach. There was a challenging time scale to complete the transaction and RSM delivered in line with our objectives. The team led negotiations with a sophisticated seller and facilitated an acquisition that will add value to our automotive division.’
Mark Insley, Group Managing Director
Rema Tip top Holdings UK Limited