Lodders’ Corporate and Commercial team has advised fastener group Whitehouse Industries on its acquisition of Coventry-based threaded parts manufacturer, Ernest Engineering.
Whitehouse Industries bought the family-owned manufacturing business that has over 50 years of trading in Coventry in a multi-million pound deal, in its latest step of its expansion strategy, offering and capabilities within the metal fastener industry.
Commenting on the company’s latest acquisition, Stuart Whitehouse of Whitehouse Industries said: “I am delighted with the acquisition of Ernest Engineering, Bailey & Wade and Anchor inserts, which have undergone significant development over the last 10 years through the leadership of Austin Wade.
“With ongoing investment in sliding head CNC machines and property extensions, combined with fantastic customer service, the Group has gone from strength to strength, and I very much look forward to maintaining this trajectory by continuing to offer customers UK made products of the highest quality.”
Leanne says: “It has been lovely to work with such a talented team on this deal. Ernest Engineering is a great business and one which I am sure will continue to flourish as part of Stuart and his teams’ expertise and portfolio of businesses in the manufacturing and engineering sector.”
Graham Spalding adds: “It was great to support Stuart and his team on this acquisition, and I have no doubt the business will continue to grow and progress under the new ownership. We wish the business every success for its continued growth and development.”
Azets’ corporate finance and tax teams advised the shareholders of Ernest Engineering on the transaction, managing the project from inception to completion. Legal advice to the shareholders was provided by Howes Percival. Working with Lodders to provide advice to Whitehouse Industries were Springboard (corporate finance), Wayside Accountancy (financial due diligence) and Parisi Tax (taxation advice).Get in touch