Shoosmiths advises on Swedish acquisition of UK firm
BIRMINGHAM-based law firm Shoosmiths has advised Swedish conglomerate Indutrade AB on its acquisition of Adaero Precision Components from the Cosworth Group.
No financial details relating to the transaction have been disclosed.
Shoosmiths corporate partner Ben Turner, associate Al Hammerton and tax partner Kate Featherstone, advised on the deal.
The firm previously advised on the sale of Birmingham Specialities to Indutrade last year.
Devon-based Adaero Precision Components is a specialist manufacturer of high precision components, from glass reinforced plastics and aluminium to stainless and special alloys, mainly for optical, medical, laser and leak detection applications.
Indutrade markets and sells components, systems and services with a high-tech content within selected niches.
Turner at Shoosmiths, said: “Indutrade is 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 CEO, said: “Adaero is our sixth acquisition in the UK in the last 18 months reflecting the importance of the UK to our future strategy.”
