Kreston Reeves and Kreston ProWorks on acquisition

Kreston Global member firms Kreston Reeves (UK) and Kreston ProWorks (Japan) have successfully advised Washin Chemical Industry Co., Ltd. on its acquisition of JFBR Group Limited, the holding company of Foilco Ltd. Read the full report here, or a summary below.

Headquartered in Japan, Washin Chemical Industry Co., Ltd. manufactures hot stamping foils and specialist coatings and paints for products and consumer packaging worldwide. Founded in Greater Manchester in 1987, Foilco Ltd. is a leading supplier of hot stamping foils for premium packaging, print and product decoration.

Working collaboratively across borders, Kreston Reeves and Kreston ProWorks delivered a seamless, multilingual advisory service covering buy-side corporate finance, financial due diligence and tax due diligence. The transaction also drew on the expertise of Kreston Revicom (Italy), which provided specialist local tax advice, demonstrating the strength of the Kreston Global network in supporting complex international transactions.

Craig Dallender, Corporate Finance Director at Kreston Reeves, said: “Kreston Reeves and the Kreston Global network is well-placed to support businesses anywhere in the world looking to do business in the UK or to acquire UK businesses. We are delighted to have advised the Washin Chemical Industry Company on this acquisition and to work alongside the terrific Kreston ProWorks team. This transaction really demonstrates the strength of Kreston Global and our ability to leverage regional expertise and vast deal experience to provide our clients with high quality cross-border support.”

Marek Lehocky, CEO and Director of Kreston ProWorks, said: “Washin Chemical Industry Company is a global leader in specialist foils and coatings with customers around the world. Its acquisition of Foilco Ltd in the UK is an important step in its international growth, and we are pleased to have supported this transaction alongside Kreston Reeves. We also appreciate the role of Nihon M&A Center, a leading M&A advisory and brokerage firm, in bringing the buyer and seller together and enabling this successful cross-border transaction.”

Andrew Griggs, Senior Partner and Head of Global at Kreston Reeves, added: “This engagement clearly demonstrates the strength of the Kreston Global network and how our member firms collaborate seamlessly to deliver effective cross-border solutions for clients. I am extremely proud of the way Kreston Reeves and Kreston Proworks worked together as one team to successfully support a mutual client.”

Shin Nakamichi, Executive Officer, Washin Chemical Industry Co., Ltd., said: “We are grateful for the support provided by Kreston Reeves and Kreston ProWorks throughout this acquisition. Their advice was timely, practical and well coordinated across Japan and the UK, which gave us confidence as we progressed the transaction.”

Legal advice to Washin Chemical Industry Co., Ltd. was provided by Nishimura & Asahi and RPC Legal, while Lodders Solicitors advised Foilco Ltd. Japanese corporate finance advice was also provided by Nihon M&A Center Inc. For more information on doing business with Kreston Global, please contact us here.