Friday, 2 January 2015
Gateley advises on sale of plastic components businesses
The Corporate team in the Nottingham office of national law firm Gateley has advised on the sale of plastic components company Fibracon Twin, and its sister arm Insoll Components, to Gloucester-based Röchling Engineering Plastics (UK).
The two businesses will continue to trade from their existing UK manufacturing locations in Derbyshire and Hertfordshire, but will now join a network of 14 other specialist plastic CNC machining businesses across the world as part of the wider Röchling Group.
The Group specialises in thermoplastic and composite processing technology. It employs 7,500 people globally and has turnover of 1.3bn euros.
Gateley Corporate partner, Mark Rutherford along with senior associate, Paul Simpson advised the selling shareholders on the deal. Mark said: “We’re really pleased to be involved in the sale of Fibracon and Insoll. Having worked with both companies for more than 20 years they are long-standing clients of the firm.
“The deal provides both businesses with an opportunity to flourish by allowing their customer base access to the production capabilities, materials and processing expertise available through The Röchling Group.”
The deal, the value of which has not been disclosed, is the latest in a series of deal completions for Gateley's Corporate team in Nottingham, including advising East Midlands based haulage, storage and logistics business, Lockwood Holdings, on a major shareholder restructuring deal and acting on the secondary management buyout of Shacklocks Plumbing Heating and Electrical, based in Sutton-in-Ashfield.Back