Manufacturer acquired by Swedish group
A Swedish company has acquired a Birmingham manufacturer which specialises in frictionless movement products.
Established in 1939, Alwayse pioneered some of the original designs and manufacturing processes for Ball Transfer Units, which enable smooth and precise movement in any direction without the requirement for mechanical power.
Lifco is a listed Swedish company whose shares are traded on the Nasdaq Stockholm Exchange and is focused on acquiring market-leading niche businesses with defensible margins and strong cash generation.
Lorna Mendelsohn, UK M&A director at Lifco, said: “We’re pleased to have successfully completed the acquisition of Alwayse and are excited by the global growth opportunities. Thank you to all those involved.”
Heligan Group advised on the deal.
Colin Strevens, partner at Heligan Group, said: “Alwayse is a great example of a strong Midlands based manufacturing business and is well-managed with a globally recognised brand. After a competitive process, the acquisition by Lifco will allow the company to continue its expansion into new markets. This was a great example of Heligan advising a family-owned company sensitively and effectively through its exit strategy.”
Advisors to Alwayse:
Colin Strevens, Matt Croker, Alex Neale and Sim Gill of Heligan Group (Corporate Finance) and Richard Griffiths, Katie Willems, Sam Dell and George Hinchmore of Higgs (Legal).
Advisors to Lifco:
Walker Morris (Legal), and BDO (Tax due diligence).