Fladgate has advised on the sale of the Magal Group, an industry leading automotive component and system supplier, to Arlington Industries, a Cartesian Capital Group backed supplier to the automotive and aerospace sectors.
Magal is recognised as a tier one global strategic supplier, attaining preferred supplier status with Ford, Daimler, Jaguar Land Rover, Renault Nissan and PSA.
Arlington itself is a tier one supplier to many of the major automotive OEMs.
The deal was supported by a £45m facility by Wells Fargo and Shawbrook Bank, which will also fund Arlington’s growth plans.
Julian Lewis, corporate partner and lead lawyer on the sale commented: “This was a very rewarding and extremely complex transaction on which to be instructed, given the industry leading status of both Magal and Arlington, and the international nature of the Magal Group. We managed the sale across multiple jurisdictions, including France, Turkey, India and the UK and worked very closely with our clients’ tax, accounting and corporate finance advisers. In addition, the automotive industry has many sectors specific nuances with which we dealt.”
Gamil Magal, one of the Magal sellers, commented: “I cannot speak highly enough of the Fladgate team led by Julian, all of whom went above and beyond the call of duty to protect our interests throughout the transaction”.
As well as Julian Lewis, the Fladgate team comprised tax partner Hamilton Forrest, commercial and competition partner Eddie Powell, corporate senior associate Melissa Needham, employment senior associate Mike Tremeer, corporate associate Orit Rioumine Gold and property associate Jennifer Johnson.