Penningtons Manches' corporate team has advised the shareholders of Weldability Sif on its sale to the Indutrade Group. Oxford corporate partner Will Axtell led the Penningtons Manches team, principally assisted by associate Nicola Harding.
Weldability Sif, with a legacy dating from 1925, is a trusted provider of welding, cutting and fume-extraction equipment, consumables and accessories, in the UK and EMEA. Indutrade markets and sells components, systems and services with a high-tech content in selected niches, for recurring needs. It is listed on Nasdaq Stockholm and achieved net sales of around €1.6 billion in 2018 through a structured strategy. It is a decentralised organisation, characterised by an entrepreneurial spirit.
Joining Indutrade provides Weldability Sif with the platform from which it can achieve its further growth objectives and enter new markets, whilst retaining its culture, team and established distribution channels.
Gareth Hawkins, managing director of Weldability Sif, commented: “We are excited to be joining such a strong, progressive and supportive group at Indutrade, and looking forward to further improving our customer experience as we enter this new chapter of our company history.”
Weldability founder and long-serving chairman Adrian Hawkins said: “Having built the business over the last 37 years, on key values of stability, reliability and technical excellence, I am delighted that its new owners share those values and will provide an ideal environment for the company to further develop, to the benefit of its loyal customers. The legal team at Penningtons Manches provided a clear view of the process at the outset, a superb service throughout and commanding management of the final outcome.”
Weldability Sif was also advised on this transaction by Rockworth Management Partners (corporate finance) and George Hay (accountants).