Saffery Champness acts for Metalex on its purchase of Alimex UK
Saffery Champness’ Bournemouth office has acted on behalf of Paul and Sally Nicola, the shareholders of Metalex Holdings Ltd, based in Poole, Dorset, on the company’s acquisition of Alimex UK Precision in Aluminium Ltd, a distributor and processor of aluminium cast plates, from Alimex Gmbh. The deal included the acquisition of the freehold of Alimex’s business premises. The transactions completed on 29 March 2019.
Alimex Gmbh, is one of the world’s largest producers of aluminium plate products and its disposal of its UK subsidiary allows it to focus efforts on its core manufacturing business, whilst ensuring the future supply to the UK market.
Alimex UK Precision in Aluminium Ltd has been renamed Metalex ACP Ltd. It is the sole distributor of Alimex products in the UK and Ireland. The company continues to trade from its premises at Fingle Drive, Milton Keynes and all of the team have been retained.
Paul Nicola, Managing Director of the Metalex Group, said: “The acquisition of Alimex is an opportunity to increase the product offering to our existing customers and we are excited at the potential for expansion within the UK market.”
The transaction team at Saffery Champness included Mark Kilbey, Corporate Advisory Director, Andrew Alder, Consultant, Mark McGarry, Commercial Tax Partner, and Richard Meller, Corporate Tax Manager. The team helped to negotiate the deal and advised on accounting and taxation issues from initial agreement of heads of terms through to completion.
Mark Kilbey commented: “This transaction involved a European seller and it was essential to understand their expectations when advising the shareholders on transaction terms. The due diligence process was an important element of our work to ensure that all potential liabilities and relevant issues were identified. We wish Paul and Sally and their team every success with their acquisition and expect to see Metalex ACP Ltd grow significantly in the future.”
Paul Nicola added: “The team at Saffery Champness supported us throughout this successful transaction from initial meetings to completion and their advice was invaluable.”