Fladgate have advised Krantz GmbH (part of the STEAG Group) on the purchase of Krantz Limited. Krantz develops, designs and manufactures air distribution systems, cooling and heating systems for ceiling and facade installations as well as exhaust gas filtration, dampers and clean air solutions. The target is the sole distributor in relation to its products in the Irish and British markets.
In acquiring Krantz Limited, STEAG continues to push ahead with its internationalisation strategy and participation in the British and Irish markets.
STEAG said “We very much appreciated working with the Fladgate team. With their professional support and clear explanations on the characteristics of a transaction in UK, Fladgate gave us as a lot of comfort as a foreign investor in completing this project.”
Alex Kaufmann, partner at Fladgate, comments: “The Fladgate team was delighted to assist STEAG and Krantz on this strategically important acquisition. With Brexit looming, it is encouraging for us all to see the continued commitment of respected German businesses to the UK market. We wish Krantz UK much success under new ownership and are looking forward to playing our role in supporting its future growth.”
The team was led by Corporate partner Alex Kaufmann and Corporate Senior Associate Ashleigh Brinklow and comprised partners Hamilton Forrest and Alex Haffner, supported by Senior Associates Tom Bolam, Roland Brandman, Caroline Philipps and Ian Smith and Associates Eleanor Green, Ingrid Hesselbo and Tom Edwards.