Dublin leads international Pinsent Masons team on acqusition of Cork-based business
Lawyers at Pinsent Masons in Dublin have led a team of colleagues across the international law firm’s European network to deliver the acquisition of a family-owned business headquartered in Cork with additional sites in Ireland and the UK.
Pinsent Masons acted for Swedish-headquartered AxFlow Holding AB (a division of Axel Johnson International), working closely with AxFlow’s Swedish counsel, Cirio, in buying the Irish Induchem Group, the specialist provider of fluid handling solutions, which predominately focuses on the supply of industrial valves, pipe solutions, mixers, and pneumatics.
The acquisition will see Induchem continuing to operate under its own brand but with the added benefits and synergies created by being part of a large international conglomerate.
Dorian Rees, corporate associate at Pinsent Masons in Dublin, said: “We were pleased to advise AxFlow on this acquisition of a strong Irish-owned business, along with the support of our colleagues in Belfast, Manchester, Leeds and Munich, many of whom are cross-qualified in multiple legal jurisdictions. Building in the expertise of teams via an integrated service model across our European network is a key benefit for our clients.
“Our Ireland team has been built out across all of Pinsent Masons’ five global sectors including advanced manufacturing and technology as well as energy, financial services, infrastructure and real estate, so we were able to bring that market insight to bear as well as a wide geographical reach.”
Ole Weiner, CEO of AxFlow Holding, said: “The acquisition is in line with AxFlow Group’s strategy of adding valves to its existing positive displacement pump portfolio with the aim of having the capabilities to build larger systems, to extend the service support and grow its geographical presence in existing markets.
“Induchem has long-standing relationships with leading international valve and process equipment manufacturers and this will open up future expansion opportunities for other AxFlow distribution companies in Europe.”