The deal is conditional upon clearance from the UK Competition & Markets Authority and is expected to complete at the end of October.
Youngman Group managing director Paul Bentley said: “This deal, if approved by the CMA, will see Youngman Group become part of WernerCo, a leading global access products company and the world’s largest ladder manufacturer.”
WernerCo chairman William Allen added: “The Youngman and BoSS brands are recognised tower and trade access product brands in the United Kingdom and fit well with Werner’s existing UK ladder business. We’re confident that the deal will benefit the industry by allowing us to offer a single integrated portfolio that combines our complementary strengths – Youngman’s focus on towers and other trade products and Werner’s focus on ladders and other DIY access products”.
WC Youngman Ltd was founded by Charles Youngman on the first day of the National Strike in 1926. He died in 1967 and two years later the company was acquired by scaffold company SGB Group. In 1986 SGB was acquired by Mowlem, which floated the SGB Youngman business in 1997. It was acquired by Harsco Corporation in 2000.
In October 2005, a management team led by Paul Bentley bought out the Youngman part of the business, backed by Matrix Private Equity Partners. The company has production facilities in Maldon, Essex and turns over £50m a year.