Emms Gilmore Liberson advises on stunning deal!
Frontmatec is the leading global supplier of customised equipment, solutions and software for the red meat industry. Accles & Shelvoke is the world leading manufacturer of captive bolt stunning tools.
Accles & Shelvoke has been manufacturing in Birmingham for over 100 years and has recently experienced increased demand from its global customer base for its high-quality cartridge powered tools.
Frontmatec’s ownership of Accles & Shelvoke will support the business’ growth and development of new products and new markets which will help the company increase its penetration of the global marketplace.
Working alongside Frontmatec’s Danish lawyers, Gorrissen Federspiel, Greg Emms and Jon Start were also supported by Emms Gilmore Liberson team members Matt Jackson (Commercial), Peter Adkins (Regulatory), Beth Margetson (Property) and Elaine Howard (Employment).
Jon Start said of the deal, “Accles & Shelvoke will be a strong fit within the Frontmatec group and the acquisition only strengthens the position of Frontmatec within its industry.” Commenting about the nature of the transaction itself, he said: “The timetable for completion of the deal meant that there was a substantial amount of work to do in a very short period of time. We needed to form an effective working relationship with Frontmatec’s Danish lawyers and other professional advisers very quickly in order to deliver the project on time, something which we were able to do, to the benefit of Frontmatec and the other parties concerned.”
Christoffer Müller, Deputy Chairman of Frontmatec, commented, “We were delighted with the professional and efficient approach adopted by Jon, Greg and their team. We were working to tight deadlines and, with the help of EGL and our other professional advisers, it took less than 15 working days to finalise the deal. It is always challenging dealing with international acquisitions, and particularly with this being our first acquisition in the UK, but the EGL team kept us fully informed and responded quickly to all issues which arose.”
The new owner of Accles & Shelvoke, Frontmatec, is a leading global supplier of advanced slaughter lines and other production equipment to major producers such as Tönnies, Group Bigard, WH Foods, Tyson Foods, Miratorg and Danish Crown, and has operations in Denmark, the Netherlands, Canada, the US and China. With the purchase of Accles & Shelvoke, Frontmatec aims to expand on its offering of slaughterhouse equipment.
Frontmatec CEO, Henrik Andersen said about the purchase, “Frontmatec develops world-leading customised solutions for automation in the food industry, other hygiene sensitive industries and the utilities industry. Our ambition is to offer a full product and service offering to the industry. Accles & Shelvoke is a fantastic addition to our business with an existing large share of the global captive bolt equipment market, which we aim to develop further.”
Joe Holland, who was appointed as the General Manager of Accles & Shelvoke just over a year ago, will take full control of the captive bolt equipment manufacturing company, reporting directly to the Frontmatec management board.
Joe Holland said about the acquisition: “We sell our products all over the world, both direct to end users and through a network of over 40 distributors serving over 60 countries. In recent months, we have been focusing on expanding our presence globally by signing new distributors, in addition to building our product range of reliable and popular tools. Our new owners will help develop and build the company through continued investment, and I am excited to be leading the business in achieving that goal.”
Accles & Shelvoke was formerly part of the Minworth-based Eley Group, which makes 22LR ammunition used in target shooting by competitors including Olympic standard athletes. Eley group supplies the cartridges to Accles & Shelvoke for their captive bolt equipment.
Roger Gill from XMS Capital Partners (UK) provided corporate finance advice to Frontmatec and Smith & Williamson provided advice in relation to other financial and tax aspects of the deal.