Hazlewoods advises Cordovan Capital on Powdertech acquisition

Hazlewoods corporate finance team has advised on the sale of Northamptonshire-based company Powdertech, an architectural powder coating business, to private equity firm Cordovan Capital, whose headquarters are in Belfast.

Powdertech has worked on structures including The Shard, the £14.7bn Riyadh Metro, and the 30m tall and 390m long Silverstone Flying Wing, created during the redevelopment of the home of British F1 racing.

Founder, Martyn Green, has retired from Powdertech, but fellow directors Giles Ashmead and Richard Besant, are excited to continue to grow the business.

Cordovan Partner, Daniel Anderson, said: “This acquisition sees us support a highly experienced and industry-recognised management team in their ambitions to lead the next chapter of Powdertech’s growth.

“This is a successful, innovative surface technology business whose work can be seen on many iconic buildings. We are delighted to welcome it into the Cordovan portfolio.”

Green added: “I have every confidence the company will continue to go from strength to strength and wish the new owners every success in the coming years. Also, the vendors would like to thank the whole Hazlewoods team for their boundless enthusiasm and support throughout the sale process.”