07 Jan Essex based Milbank Group acquire 9th UK business
Family-owned investment company, Milbank Group, continues to grow its diversified portfolio of businesses following the successful acquisition of Silostop. The name Milbank is synonymous with precast concrete products; however, the Group’s already diverse range of businesses include Cadman Cranes, Sui Generis International, ARK Agriculture, Orion Future Technology, Nicola Jane and Xanthos.
Based in Finchley, North London, and operating globally throughout a network of strategic distribution partners, Silostop have been dedicated to helping farmers around the world produce better silage for over 10 years. They pioneered the oxygen barrier silage film and have continued to innovate with a wide range of products and systems within the agricultural sector. Silostop’s films are used on some of the largest dairy and beef farms in the UK and globally, including use within anaerobic digestion power generation – a rapidly growing market worldwide.
Silage is an essential element within the dairy and livestock sector, providing much needed feed for animals during winter. Grasses or other crops, such as rye or maize, are cut, compressed into silage clamps, and covered with films like the single layer Silostop MAX until they’re ready to be fed to livestock.
Whilst Silostop will continue to operate from its base in London, there are significant synergies with existing Milbank Group company ARK Agriculture that will strengthen and secure the future of both companies. It is intended that the Silostop brand will join ARK Agriculture’s umbrella of agricultural solutions, including precast concrete silage clamps, silage and side wall sheets, and their ‘Secure’ branded covers, windbreaks, econoblinds and gravel bags.
ARK Agriculture are the UK leaders in silage storage and are the only company in the UK specialising in the supply and design of the innovative and patented sloping walled silage clamp – a structure used by renewable energy projects and livestock farmers to store silage prior to feeding to cattle or anaerobic digestion plants.
The Group’s strategy is to not only continue to grow itself by investment in new businesses, but to also support the growth of its individual companies by use of bolt-on businesses that will add value to each company respectively.
Sean Milbank of Milbank Group said, “We have admired Silostop as a brand for a number of years and are delighted that it will be joining our Group.”
This amalgamation will introduce exciting opportunities to offer the complete range of products available to new and existing markets overseas, as well as the opportunity to cross sell products between existing customers, making Silostop a prime acquisition for the team at ARK Agriculture. This new venture further strengthens ARK Agriculture’s mission to provide an exceptional level of service to their already strong base of customers throughout the agricultural sector, an objective that is mirrored with the team at Silostop.
Francis Auchincloss, Managing Director of ARK Agriculture said, “On behalf of the Directors of ARK Agriculture Limited we are delighted to have acquired the Silostop business and its dedicated staff around the world and we welcome them into ARK Agriculture and the Milbank Group. The acquisition of the Silostop business presents a great opportunity for ARK Agriculture to build on a successful period of steady and consistent growth within the UK and provides a platform to bolster our presence in dairy, livestock and the anaerobic digestion sector nationally as well as internationally.”
With values aligned so closely with both the Group and ARK, the acquisition of Silostop brings with it great benefits and opportunities for all parties. Milbank Group is committed to continuing Silostop’s growth plans within the agricultural sector, ensuring that both their staff and distributors are supported and welcomed by both the Group and the team at ARK Agriculture.
As part of the Milbank Group, Silostop joins Milbank Concrete Products, Sui Generis International, Cadman Cranes, ARK Agriculture, Secure Covers, Orion Future Technology, Nicola Jane and Xanthos. A detailed overview of each Group company can be found within the Group’s website – www.themilbankgroup.co.uk.
The acquisition of Bruno Rimini Ltd was successfully completed on Friday 31st December 2021 led by Prism Corporate Broking, Birketts Solicitors and Ensors Chartered Accountants (Tax Due Diligence). Silostop was advised by FSPG’s Corporate Finance Team and Gannon Solicitors.