Ardenton Capital — a Canadian private-equity firm with its UK headquarters in Manchester — has taken over Telford-based Corbetts (www.corbett.co.uk), a hot-dip galvanising firm that was started in 1809.

The lattter’s managing director (Tim Ward) and finance director (Sophie Boothroyd) have both invested alongside Ardenton.

The value of the deal was not disclosed, but in 2015 a £10.5 million takeover bid by a subsidiary of Hill & Smith Holdings faltered after the Competition and Markets Authority wanted to see if this might create a monopoly.

Corbetts is the UK’s largest independent hot-dip galvaniser and serves UK and international manufacturing businesses. Its most recent published accounts, for the year to March 2016, show pre-tax profits of £1.3 million on revenues of £10.3 million.

Ardenton says it invests in businesses “with no intention to divest the businesses it acquires”, adding that it plans to invest £100 million globally this year and to begin fundraising in the UK.

Michael Bradbury, a UK director of Ardenton, said: “Corbetts is a great business with an impressive management team. We set out with a sector-neutral approach and a focus on robust and growing businesses supplying products or services that will be as relevant in 20 years’ time as they are today. Corbetts ticked every box for us.”