Birketts has advised Howarth Engineering on its sale to Milltech Precision Engineering for an undisclosed price.
The deal sees Milltech, a subsidiary of Indutrade, continue to invest and remain at the cutting edge of machining technology. Andrew and Mark will remain in the business for a period following completion to oversee a smooth transition of ownership.
Established in 1971 Howarth Engineering established itself as a versatile, innovative and reliable CNC Precision Engineering supplier to many businesses nationwide, specialising in such sectors as automotive engineering, telecoms, astronomy and power generation.
Birketts acted for Andrew and Mark Randall and advised on all legal matters. The sale was co-led by Ed Savory (Corporate) and Nikki Reid (Corporate), with assistance from Ben Clarke (Corporate), Andrew Ridout (Commercial Property), Sam Greenhalgh (Employment) and Karl Pocock (Tax).
Andrew Randall, Managing Director at Howarth Engineering commented: “Birketts’ has a fantastic reputation for advising on company sales and the commercial desire to get deals done. The team also understood our idiosyncrasies as a second generation family-owned business and ensured that the business that our family has built-up remains in safe hands.”
Ed Savory said: “I am delighted that we have been able to secure the sale of Howarth Engineering for Andrew and Mark. We were able to draw upon our sector expertise and marry that with a multi-disciplined team to secure the sale to Milltech within the agreed timeframe.”
The content of this article is for general information only. For further information regarding this article, please contact Ed Savory or a member of Birketts' Corporate and Commercial Team.
This article is from the March 2018 issue of The Family Business, our newsletter for those working within family-owned businesses. To download the latest issue, please visit the newsletter section of our website.
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