Kreston member firms advise on Washin Chemical Industry acquisition

Kreston Reeves and Kreston ProWorks have advised Washin Chemical Industry Co., Ltd. on its acquisition of JFBR Group Limited, the holding company of Foilco Ltd.

Headquartered in Japan, Washin Chemical Industry Co., Ltd manufactures hot stamping foils and specialty coatings and paints for products and consumer packaging around the world.

Established in 1987 in Greater Manchester, Foilco Ltd specialises in the marketing and supply of hot stamping foils for premium packaging, print and product decoration.

Kreston Reeves (UK) and Kreston ProWorks (Japan) worked together to provide their client with a seamless, multi-lingual service. They provided buy-side corporate finance, financial and tax due diligence support, combining local knowledge and global experience to ensure all stakeholders had the appropriate support and advice.

Kreston Revicom (Italy) also provided additional local tax expertise.

The team in the UK was led by senior partner Andrew Griggs and Corporate Finance director Craig Dallender, supported by Sakshi Gupta (Corporate Finance manager), Mohammed Mujtaba (Corporate Tax partner), Karl Dillow (Corporate Tax senior manager) and Tanraj Bansal (VAT senior).

In Japan, the team was led by Kreston ProWorks CEO anddDirector Marek Lehocky, supported by Kazumichi Shimagaki. For Kreston Revicom, the team included Mario Wiel Marin (partner) and Michele Zingarelli (associate partner).

Dallender 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.”

Lehocky added: “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.”

Shin Nakamichi, executive officer, Washin Chemical Industry Co, 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.”