Twickenham Plating Group acquired in entrepreneur-led deal

Twickenham Plating Group, a specialist metal finishing business founded in 1947, has been acquired by Roxbi Capital, a Derby-based acquisition vehicle led by chartered engineer Sina Fattahi. The deal completed at the end of August 2026.

Twickenham Plating Group provides technical plating services for mission-critical components across the electronics, telecommunications, aerospace, military and automotive sectors. The company is headquartered in Twickenham, Middlesex, with additional operations in Poole, Dorset.

Financial terms of the transaction were not disclosed. Companies House filings show the acquisition was debt-funded, with a 49-page debenture registered against the company on the day of completion.

The business is being sold by David Hill and Jonathan Hill, who stepped down as directors on completion. Fattahi has been appointed as a director and takes over as managing director. A Spanish corporate entity, Lerasium XXI S.L., was also appointed to the board.

The acquisition follows several years of strong trading. Twickenham Plating Group's accounts for the year to 31 December 2025 show pre-tax profit of £1.77 million, up from £693,773 the previous year. Profit after tax reached £1.36 million in 2025, compared with £515,581 in 2024 and £295,741 in 2023, close to a fivefold increase over two years.

The company's latest turnover is not publicly available, as it has filed accounts without a published profit and loss statement in prior years. Its balance sheet, however, points to a cash-generative business. Net assets stood at £6.76 million at the end of 2025, up from £5.4 million a year earlier, including £4.51 million of cash at bank. The company employed an average of 55 people during 2025, up from 52 in 2024.

Roxbi Capital acquired the business through a holding company structure, with Roxbi Capital Holdco Limited and Roxbi Capital Finco Limited both incorporated in August 2025 ahead of the transaction. Fattahi is registered as the person with significant control of the holding company.

Fattahi founded Roxbi Capital as an entrepreneur-through-acquisition vehicle, seeking a single established British company to acquire and operate. He holds a master's degree in mechanical engineering from the University of Southampton and an MBA from Saïd Business School at the University of Oxford. His engineering and manufacturing background was cited by the sellers as a factor in selecting Roxbi as the buyer.

The purchase is backed by a group of professional investors and search-fund specialists, including Istria Capital, Orca Equity Partners, Vonzeo Capital and others, alongside individual backers.

Jonathan Hill, former managing director of Twickenham Plating Group, said: "Selling a business is not an easy decision and the process is challenging, but we were delighted to receive multiple offers, enabling us to make the right decision for the whole team and to find a supportive owner to take the 80-year legacy of our business forward for the next generation."

Sina Fattahi, managing director of Twickenham Plating Group, said: "TPG has built an outstanding reputation over many decades, supported by a fantastic team and long-standing relationships with its customers and suppliers. I look forward to building on the strong foundations they have created and continuing the company's success for many years to come."

The sale attracted interest from buyers in nine countries before Roxbi Capital was selected, according to the sellers' adviser, Marktlink UK.

Also read: ETA and Search Funds: A viable M&A model?

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