The deal is conditional upon clearance from the UK Competition & Markets Authority and is expected to complete at the end of October.
Youngman Group managing director Paul Bentley said: 鈥淭his deal, if approved by the CMA, will see Youngman Group become part of WernerCo, a leading global access products company and the world鈥檚 largest ladder manufacturer.鈥�
WernerCo chairman William Allen added: 鈥淭he Youngman and BoSS brands are recognised tower and trade access product brands in the United Kingdom and fit well with Werner鈥檚 existing UK ladder business.聽 We鈥檙e confident that the deal will benefit the industry by allowing us to offer a single integrated portfolio that combines our complementary strengths 鈥� Youngman鈥檚 focus on towers and other trade products and Werner鈥檚 focus on ladders and other DIY access products鈥�.
WC Youngman Ltd was founded by Charles Youngman on the first day of the National Strike in 1926. He died in 1967 and two years later the company was acquired by scaffold company SGB Group. In 1986 SGB was acquired by Mowlem, which floated the SGB Youngman business in 1997. It was acquired by Harsco Corporation in 2000.
In October 2005, a management team led by Paul Bentley bought out the Youngman part of the business, backed by Matrix Private Equity Partners. The company has production facilities in Maldon, Essex and turns over 拢50m a year.
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