Grant Thornton has advised on the sale of Northampton manufacturer, Metrol Springs Ltd, to Swedish firm, Lesjöfors AB Group, for an undisclosed amount.
Metrol Springs, a leading specialist in the design and manufacture of industrial gas springs and gas spring systems in the United Kingdom, instructed Grant Thornton and Howes Percival to agree the terms of the sale which completed in January 2020. This is the second cross-border transaction in the region led by Grant Thornton and Howes Percival in the last three months, following the sale of Wellingborough-based, EasyDo Products to an American buyer in October 2019.
Mike Hughes, director at Grant Thornton’s Northampton office, who led the transaction commented: “It’s been great to be part of a high quality pan-European deal; the strategic rationale for Lesjöfors AB was compelling and this deal represents a fantastic outcome for all parties. The shareholders of Metrol have built a really impressive business, and we wish the team and Lesjöfors AB all the best for the future.”
Gerald Couldrake, Partner at Howes Percival commented: “We are delighted to have kicked off 2020 by being able to help Rob, Andy and the other shareholders achieve their well-earned exit from Metrol Springs. Metrol is another example of a local business from the resilient, entrepreneurial community in and around Northamptonshire which, even in fairly unstable economic times, can still produce attractive, profitable return investment opportunities for UK-based and international buyers. We look forward to following the buyer’s progress into 2020 and beyond”.