Cripps advises ADDEV Materials on cross border transaction
Law firm Cripps (incorporating Pemberton Greenish) has advised on its second major deal this spring involving a French company investing in the UK.
ADDEV Materials, which employs 500 people and has a €110m turnover, used the corporate team at Cripps for its strategic purchase of Graytone Limited.
Julien Duvanel, ADDEV Materials CEO and Aerospace & Defense Business Unit CEO, said: “The team at Cripps advised on all of the legal aspects of the transaction, drawing on their significant international transactions experience and expertise to ensure the process ran smoothly and efficiently.”
Cripps partners Julie Hughes and Olivier Morel led the team advising ADDEV Materials, assisted by Lowri Jones (Corporate), Elizabeth Middleton (Tax), Emma Saunders (Employment), Harry Partridge (Commercial) and Lorna Young (Real Estate).
Julie Hughes said: “Despite the current uncertainty around Brexit, we are continuing to witness strong cross-border commercial activity with foreign firms keen to invest in the UK.”
Since 2016, it has been the ambition of ADDEV Materials Group to become an international leading player in the field of aeronautics, space and defence, by creating a dedicated business unit. The acquisition of the Graytone Group and its subsidiaries Pexa and PSG, is a move towards realising that ambition. Both companies specialise in added value services and expert distribution of surface treatments, coatings, chemicals, composites and other materials mainly dedicated to the aerospace & defence markets.
Julien Duvanel added: “We expect excellent synergies from the Graytone project in Europe and Middle East. We believe we can achieve significant cross fertilization as an “Adhesives & Chemicals” custom made solutions expert, with our worldwide customers, our world-class manufacturers’ partners and our geographical position in Europe and North America.”
Oaklins Smith & Williamson advised ADDEV Materials on the Corporate Finance aspects of the transaction, having initially identified and approached Graytone on ADDEV Materials’ behalf.