Ashtons Legal advises Seaforth Holdings on acquisition of Indestructible Paint
No sums have been disclosed for the deal but it was underpinned by a multi-million-pound structured finance package from Shawbrook, a long-standing funding partner to Seaforth. Ashtons Legal acted as lead legal adviser to Seaforth throughout the transaction, advising on all aspects.
Indestructible Paint, established in 1978, has earned a global reputation for producing coatings designed to withstand extreme and highly regulated conditions. Founded by Douglas Norton, the business has spent more than 40 years building an unparalleled reputation within the industry.
The company develops and manufactures over 750 proprietary formulations, including its well-known “Rockhard”, “Ipcote”, and “Smoothcote” ranges, serving major aerospace and defence programs in more than 65 countries.
Several of its specialist coatings are entirely bespoke and unique to the company, designed for mission-critical applications including resistance to ultra-high temperatures. Its products play a critical role in applications such as jet engines, propulsion systems, industrial gas turbines, and specialist defence platforms, where durability, heat resistance, low friction and weight optimisation are essential.
Recent growth has been driven by the introduction of chrome-free coating solutions, helping customers meet increasingly stringent environmental standards.
As part of the transaction, Indestructible Paint’s existing management team will remain with the business, ensuring continuity and preserving the specialist technical expertise that underpins its success.
Craig Fiddaman, Partner at Ashtons Legal, said: “This was a strategically important acquisition for Seaforth and a great example of how well-structured finance can support ambitious growth plans. Our role was to guide the client through a complex, fast-paced process and ensure the transaction was delivered smoothly. Indestructible Paint is a high-quality business operating in a highly technical sector and we are pleased to have supported Seaforth in securing such a strong addition to its portfolio.”
Advisers on the transaction were Ashtons Legal, legal adviser to Seaforth Holdings; Oaklins S&W, exclusive sell-side adviser to Indestructible Paint; Mills & Reeve - lead legal adviser for the seller - and Pinsent Masons, adviser to Shawbrook.