Seaforth Holdings acquires Indestructible Paint Limited with advisory support from Ashtons Legal

The acquisition was backed by a multi-million-pound structured finance package from Shawbrook, a long-standing funding partner of Seaforth. Ashtons Legal served as lead legal adviser to Seaforth, providing comprehensive advice across all aspects of the transaction and working closely with management and funders to ensure the deal was completed efficiently and on schedule.

Founded in 1978 by Douglas Norton, Indestructible Paint has built a global reputation for developing high-performance coatings engineered to perform under extreme and highly regulated conditions. Over more than four decades, the company has established itself as a trusted industry leader, formulating and manufacturing over 750 proprietary coatings—including the renowned Rockhard, Ipcote, and Smoothcote ranges—used across major aerospace and defence programmes in more than 65 countries.

Many of the company’s specialist coatings are entirely bespoke, designed for mission-critical applications requiring exceptional resistance to ultra-high temperatures. These products are integral to jet engines, propulsion systems, industrial gas turbines, and defence platforms—where durability, heat resistance, low friction, and weight optimisation are essential. Recent growth has been further supported by the introduction of chrome-free coatings, enabling customers to meet increasingly stringent environmental standards.

As part of the transaction, Indestructible Paint’s existing management team will remain with the business, ensuring continuity and maintaining the specialist technical expertise that has been key to its long-term success.

Craig Fiddaman, Partner at Ashtons Legal, commented: “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.

Francis Marx, Director of Seaforth, added: “Ashtons Legal provided clear, commercial advice throughout the process and worked seamlessly with all parties to keep the deal moving. Their understanding of both the sector and the funding dynamics was invaluable in getting this transaction completed.”

The transaction was supported by a team of advisers comprising Ashtons Legal, legal adviser to Seaforth Holdings; Oaklins S&W, exclusive sell-side adviser to Indestructible Paint; Mills & Reeve, lead legal advisers to the sellers; and Pinsent Masons, adviser to Shawbrook.

Source: Ashtons Legal LLP