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The Business Magazine July 2024
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Euston Ventures acquires Silex

Silex and its European subsidiary MVQ Silicones have combined experience of over 55 years in the design, manufacture fabrication and distribution of high-quality silicone rubber products. The group has a strong presence in the UK, across Europe and in international markets.

Entrepreneurs Hub was engaged to advise the company, as impending retirement motivated the shareholders to seek an exit.

A major strength of the business is its international credentials supported by a wholly owned subsidiary based in Germany. These factors added a layer of complexity to the deal which required considerable sensitivity, skill and experience from the Entrepreneurs Hub deal team.

The conclusion of the deal will allow the company to continue to grow and thrive with support from new owners, UK-based investment company Euston Ventures.

Steve Fearn, Silex Ltd and MVQ Silicones GmbH, said: "In addition to helping us understand and navigate the intricacies of the business preparation and sale process, Mike invested time to understand the culture and personality of the business, which has been crucial to the successful transition to new ownership.

"We’re delighted with the outcome and expect that, under the governance of such a talented new team, Silex and MVQ will go on to achieve even greater things."

Euston Ventures is focused on acquiring specialist UK companies, in particular manufacturing, light industrial, product distribution and technical services businesses. Euston has been investing since 2014 and has a long-term approach to its ownership of the businesses.

 Mark Dominik, Partner at Euston Ventures, said: "Silex is a very attractive acquisition for Euston – a well-established specialist manufacturer with thousands of repeat customers across a range of industries. The business has significant operations in Germany which made the acquisition a little more complex.

"Entrepreneurs Hub provided valuable assistance to all parties in cutting through the complexity in order to get the acquisition achieved. They understood the specific needs of their clients and the business very well and were very thoughtful in finding solutions that would work for both sides."

Mike O’Connor, Lead Advisor at Entrepreneurs Hub, said: "We are delighted for the team at Silex and MVQ. We believe that we have found an excellent home for the business and are confident that the team at Euston Ventures will be great custodians of Silex moving forward."

Entrepreneurs Hub worked alongside IBB Law to provide a comprehensive sell-side service to the shareholders of Silex.

Adam Dowdney, Partner at IBB Law, said: "It was a pleasure to work alongside the Entrepreneurs Hub and the Silex shareholder team on this transaction. The deal was not without its challenges and complexities, but we at IBB worked very efficiently with the sell-side team, as well as Euston Ventures and their advisers, to ensure a successful outcome for all parties. We wish the ongoing business and all the shareholders every success for the future."

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