We are delighted to have advised Magal Engineering Ltd on their sale to Arlington Industries Group Ltd.
Based in Reading, Magal Engineering Limited (“Magal”) is a tier 1 automotive manufacturing company supplying thermal control systems, mechanical cables and tyre replacement mechanisms and toolkits to many of the world’s largest Automotive OEMs.
Consistently outperforming its competitors on value-add and quality, Magal was ranked 84th in the HSBC International Track 200, growing organic revenues significantly and operating from 7 locations worldwide.
Following an MBO in 2002 and having grown and developed the business over a 15 year period, the shareholders engaged Grant Thornton to find a strategic buyer for the business.
We leveraged their international network and Automotive sector expertise to identify a number of strategic acquirers, both trade and private equity. Through those relationships, Arlington Industries, backed by US private equity firm Cartesian Capital Group LLC, was identified as a strong fit due to its buy and build growth strategy which is focussed on companies within the supply chains of the automotive and aerospace sectors.
As the sole lead adviser to the transaction, we played an instrumental role in advising on a number of complexities which arose during the transaction, including the divesture of an overseas subsidiary, the establishment of a joint venture in China, and the impact of the EU referendum.
Our solutions-driven approach, determination and tenacity drove the process through to completion and was critical in maintaining momentum at key points in the deal.
