Shoosmiths advises Swedish conglomerate Indutrade AB on acquisition of UK manufacturer

Shoosmiths advises Swedish conglomerate Indutrade AB on acquisition of UK manufacturer


Author: Kara Shadbolt

National law firm Shoosmiths has advised Swedish conglomerate Indutrade AB on its acquisition of the entire share capital of Adaero Precision Components Ltd, from the Cosworth Group.

Ben Turner

Shoosmiths corporate partner, Ben Turner, associate, Al Hammerton and tax partner, Kate Featherstone, advised on the deal after impressing Indutrade with their approach on the sale of Birmingham Specialities Limited to Indutrade in 2014.

Adaero Precision Components Ltd is a specialist manufacturer of high precision components, from glass reinforced plastics and aluminium to stainless and special alloys, machined to customer requirements, mainly for optical, medical, laser and leak detection applications.

Indutrade AB listed on the Nasdaq, OMX Stockholm Exchange, markets and sells components, systems and services with a high-tech content within selected niches. It is organised into six business areas: Engineering and Equipment; Flow Technology; Fluids and Mechanical Solutions; Industrial components, Measurement and Sensor Technology and Special Products. Sales in 2013 totalled SEK 8,831m.

Shoosmiths corporate partner, Ben Turner, said: 'We are very pleased to have worked with Indutrade, advising them on this important acquisition. Indutrade are a serial acquirer offering a different, credible type of exit to mid-market manufacturing and industrial component supply businesses. We wish them every success as they seek to implement their ambitious growth plans for the UK'.

Peter Rowlands, Indutrade UK Ltd CEO, said: 'Shoosmiths has provided us with exemplary, seamless advice on our acquisition of Adaero Precision Components. We had been impressed by Shoosmiths' quality, commerciality and responsiveness on the other side of our previous transaction and were keen to have them on our side of the negotiation table this time. They have not disappointed us. Adaero is our sixth acquisition in the UK in the last 18 months reflecting the importance of the UK to our future strategy.'

Shoosmiths' corporate team has advised public and private companies, management teams, investors and debt providers through the business life cycle. Shoosmiths work with businesses from start up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.

The national corporate team has recently been placed second by deal volume in Experian's UK Deal Review and Advisor League Table.