22nd November 2023 | Sophie Hudson | Corporate and Commercial, Acquisition, International
Sherrards have recently acted for Participation Gestion Development Industrial (“Sphering Group”) a listed French based organisation.
The Sphering Group is a front-line player in flue and air care in Europe with a renowned expertise in design, manufacturing and distribution of innovative high-quality chimney and ventilation systems.
The Sphering Group wanted to expand its European presence with a location in the UK and targeted a competitor, SFL Ltd, previously part of the Stamm International Corp. who was the No. 2 manufacturer of flues and chimneys in the UK with well-established distribution in the USA and Far East.
Sherrards were introduced to Sphering Group via the London division of the French Chamber of Commerce and were quickly instructed to assist on the targeted acquisition of SFL.
This was Sphering Group’s first targeted UK acquisition of a trading business, and the deal took almost two years to complete due to the cross jurisdictional nature and complexities in the company raised during the research phase and resulting in a complicated escrow fund held by J P Morgan on behalf of the parties and to cover against potential and significant risks of claims associated with the trading business.
The acquisition was eventually successful and adds R&D capabilities and a sixth manufacturing plant to Sphering Group’s industrial capacities already operating in France, Italy, Belgium, Germany, and Poland. With the integration of SFL teams, the Group now employs 800 people across Europe.
To find out more, contact the Corporate team.
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