Corporate Finance Deal Announcement: European Filtration Limited
We are delighted to announce we have advised the shareholders of Northampton-based European Filtration Limited on the sale of the business to Dutch-based Affinia Netherlands Holdings. European Filtration Limited is a distributor of Wix filters in the UK. Wix is a US-based company that has production facilities in Poland and is the second largest filter manufacturer in the world. Wix has announced its intention to grow UK sales to £20 million over three years which will create significant growth opportunities for European Filtration Limited.
The business was part of the Filtration Control Group prior to completion of the deal. The Filtration Control Group is based in Northampton and is a leading distributor and manufacturer of engine filtration technology and components for the commercial vehicle, rail and automotive sectors worldwide.
Corporate finance advice to the shareholders was provided by partner Laurence Whitehead and director Martin Shaw who also oversaw tax and accounting advice provided by members of the broader MHA MacIntyre Hudson team in Northampton.
Deryck Norville, one of the European Filtration shareholders commented:
"The team at MHA MacIntyre Hudson did an excellent job from start to finish. The team saw us through to completion, whilst providing solid advice and support on the financial, accounting and tax aspects of the process. Good professional advisers with the expertise and tenacity to get the job done."
"We wish Deryck and all the ex-shareholders further success as they continue to pursue equally exciting business opportunities in the fast-growing Filtration Control Group."
If you would like to know more about this deal or how we can assist you, your clients or your contacts, send us an enquiry.