Endless LLP Leeds Acquires Anochrome in Buyout

Endless LLP Leeds completes the acquisition of surface finishing specialist Anochrome Group in a management buyout from family ownership, with Walker Morris and BDO advising on the deal

Leeds-headquartered private equity firm Endless LLP has acquired Anochrome Group, a surface finishing and coatings specialist with more than 80 years of trading history, in a management buyout from family ownership. Endless LLP Leeds, based at 12 King Street, was advised on the transaction by Walker Morris and BDO. Anochrome operates from sites in the UK, Poland, and the Czech Republic, providing surface coatings, corrosion protection, and thread-locking sealant services to customers across automotive, construction, industrial fixings, motorsports, and renewables. The deal marks a transition from 35 years of family leadership under Rob Gray to a new phase backed by Endless, with existing CEO Mark Jones continuing to lead the business.

Why This Matters For Leeds

Endless is one of Leeds’ most established PE firms, now in its 20th year of investing from a King Street base it shares with LDC. This deal shows Leeds PE firms acquiring manufacturers with international operations – Anochrome’s sites in Poland and the Czech Republic give it European reach in automotive and renewables. Walker Morris advising reinforces the pattern of Leeds law firms supporting Leeds PE deals.

What Endless Sees in Anochrome

Anochrome has built a reputation for technical expertise in surface finishing across demanding sectors. Its customer base spans blue-chip manufacturers in automotive, construction, motorsports, and renewables – industries where corrosion protection and precision coating are critical. David Isaacs, managing director at Endless, said Anochrome is a high-quality business with an impressive heritage, strong technical capabilities, and a longstanding blue-chip customer base. The investment was led by Andy Ross and David Isaacs, supported by Giusy Bicchierri, Mia Fisher, and Lee Abbott. Mark Jones, who will continue as group CEO, said the transaction represents not a change in direction but an exciting new chapter built on strong foundations, with Endless’ support positioning the business to accelerate future investment and strengthen capabilities.

“Anochrome is a high-quality business with an impressive heritage strong technical capabilities and a longstanding blue-chip customer base. We are delighted to be partnering with Mark Jones and his team and look forward to supporting the business in its next phase of growth.”

— David Isaacs, Managing Director, Endless LLP

The Leeds Advisory Team Behind the Deal

Walker Morris provided legal advice to Endless LLP Leeds, led by Debbie Jackson. BDO advised on corporate finance and tax through Tim Day and Tom Klouda. The sellers were advised by BDO’s Roger Buckley and Adam Whistance, and by Squire Patton Boggs‘ Ed Dawes. The concentration of Leeds-based advisers on both sides of the transaction reflects the depth of the city’s corporate finance and legal advisory market. Endless has been investing from Leeds for 20 years, operating across two funds – the Endless Fund and the Enact Fund – and recently celebrated wins at the Yorkshire Rainmaker Awards. The Anochrome acquisition adds an international manufacturer to a portfolio that spans multiple sectors across the UK.