Latest News

Shakespeare Martineau advise Avingtrans on deal
  • Published:
    01 September
  • Area of Law:

Shakespeare Martineau advise Avingtrans on second major deal in 18 months

Keith Spedding and his team at Shakespeare Martineau have supported long-standing client Avingtrans plc on its latest deal with Hayward Tyler Group plc for an enterprise value of £50m.

Following the sale of its aerospace division in May 2016, Avingtrans plc has been advised by the firm on its latest acquisition, which is the 14th deal in 11 years that the two companies have worked on together.

Hayward Tyler Group is a specialist engineering firm which designs, manufactures and services performance-critical electric motors and pumps for high pressure, high temperature applications in the harshest environments across the global energy sector. With connections across China, the US and India, the new acquisition provides a complementary fit for Avingtrans’ existing offering.

Avingtrans plc provides precision-engineered components, systems and services to the energy, medical and traffic management industries on a global scale. The company has a track record of growing businesses, either from start-up or via strategic acquisition, developing them internationally and crystallising value through sales at an appropriate stage in their development.

Shakespeare Martineau has supported Avingtrans on all aspects of the acquisition – acting on their behalf in relation to the recommended offer and the re-admission of the enlarged group to trading on AIM..

Keith Spedding from the firm, said: “It is refreshing to see a business act with such conviction in a time where many others are afraid to do so.

“From working with the senior management team at Avingtrans for so long, we have been able to support their strategic objectives with greater insight into their long-term goals. We take real pleasure in forming such long-standing, committed relationships with clients and we will watch Avingtrans’ movements over the coming year with a great deal of anticipation.”

Steve McQuillan, CEO of Avingtrans plc, said: "This acquisition represents the next stage in the Group's stated "buy and build" strategy in regulated engineering niche markets. There is no doubt that there are significant operational and financial benefits from the combination of the businesses.

“We call upon the team at Shakespeare Martineau for all manner of advice and support, no matter how big or small the acquisition or challenge may be. They never fail to support us and play an integral role in ensuring we successfully achieve our growth ambitions.”

"The dedication and commitment of Shakespeare Martineau
throughout the process helped to create, and preserve,
value for the shareholders."

Roger Crosse, Managing Director, POS Direct Ltd