Chorley manufacturer in Swedish deal
CHORLEY-based Beldam Crossley has been sold to Swedish industrial group Indutrade for an undisclosed sum.
Beldam Crossley is a manufacturer and engineer of high value niche sealing products to global OEMs across the aerospace, marine, petrochemical, construction and power generation industries.
It has developed a host of proprietary products, such as its high temperature seals, and will continue its innovation and product development as an independent subsidiary within the Indutrade group of companies.
The transaction is the fourth this year by the acquisitive Swedish industrials group, which has acquired more than 100 companies in the last decade.
Indutrade targets niche technology companies with proprietary products in countries with a strong trading tradition such as the UK.
The corporate finance team at BDO in Manchester advised Crossley on the deal. Led by M&A partner Ruth Percival, the BDO M&A team included assistant director Michael Bradbury and senior manager James Gregson.
Percival said: “The deal between BCL and Indutrade is a prime example of the confidence international investors have in the UK economy. The majority of the deals we are working on in the North West involve global companies as overseas investors and corporates are actively seeking acquisitions in the North West due to the region’s reputation as a center of innovation and technological excellence.”
Law firm DLA acted for the vendor.
