South Yorkshire-based Acorn Industrial has boosted its service offering with the acquisition of a specialist electro-mechanical engineering company.
Sheffield’s MD Law acted for Rotherham-based Acorn on its purchase of LER Ltd, which has strong expertise in electric motor repair and advanced on-site services and is based in Long Eaton, Nottinghamshire.
Company and commercial partner James Burdekin lead the transaction for Acorn, which is part of Axel Johnson International’s Power Transmission Solutions business group and one of the largest stockists and suppliers of bearings and housings, linear motion systems, couplings and drives, power transmission, maintenance equipment, and lubrication products around the world.
The purchase of the firm, located just south of Acorn’s Central Distribution Centre, will allow efficient collaboration, while the companies’ largely complementary customer bases create strong opportunities for cross-selling and shared growth.
James Burdekin said: “We advised on all legal elements of the acquisition of LER which offered expanded scope and new areas for company development plus highly specialised skills. This is the third acquisition completed by Acorn that we have acted on, and brings additional capabilities to offer its customers’ base.”
All employees from LER will remain with the company following the acquisition, with the existing management team continuing to lead the business.
Gavin Stacey, managing director at Acorn, said: “This acquisition strengthens Acorn’s service capabilities. LER brings highly specialised skills that are difficult to build organically, and together we can offer customers more complete and reliable solutions.”
David Sherratt, managing director at LER, added: “Joining Acorn gives us the opportunity to continue doing what we do best, while benefiting from the support and long-term perspective of a larger group. This is a positive step for our employees and for our customers.”
Dealmakers from Benchmark advised LER on transaction, and Translink Corporate Finance provided financial due diligence, tax and SPA advisory support for Acorn.
Martin Athey, Transaction Services Partner at Translink, commented: “We’re delighted to have advised Acorn and Axel Johnson on another strategic acquisition in the UK, and look forward to seeing what’s next for Acorn and LER as a combined business offering”.
For further information on how MD Law can help your business call 0114 299 4890.
