22 January, 2019
Bournemouth commercial solicitors Steele Raymond LLP have advised the selling shareholders of Parvalux Electric Motors Ltd on the sale of their business to Swiss-based motor manufacturer maxon motor.
With over 70 years’ experience Parvalux has grown to be one of the leading manufacturers of electric motors and gearboxes globally supplying a range of businesses including healthcare, leisure, mobility and industrial sectors.
Parvalux, which was private family owned and is part of ‘The Clark Group’, has offices in Bournemouth and Birmingham, will join maxon motor which has manufacturing sites in Switzerland, Germany, Hungary and Korea as well as subsidiaries in various further countries.
Parvalux Managing Director Nick Spetch said:
“We’re delighted with the sale to maxon motor who have an established pedigree and portfolio in geared motor manufacture worldwide. This market-leading mind-set will help take the business to the next level. The success of Parvalux has been built over an exciting period of growth for the business, particularly over the last ten years and we are all very proud of our long established heritage in the area. Our commitment to delivering outstanding service to all our customers coupled with the new owners’ investment will help Parvalux grow into more countries and reach new markets.”
The transaction was led by Partner and company and commercial solicitor Nick Davies who specialises in business mergers and acquisitions and is noted in the 2019 Legal 500 as being “proactive and commercially minded”.
Nick Davies said:
“We have worked with Parvalux for over ten years and over that time it has been pleasing to see the growth of the business nationally and internationally. Its success is down to a very clear strategy for growth delivered by a proactive and expert management team. Acquisitions by overseas buyers inevitably increases the complexity of the transaction but the experienced mergers and acquisitions team at Steele Raymond regularly deal with complex international M&A work so it ensures the deal progresses as smoothly as possible.”
“We have had a close working relationship with Steele Raymond for over 10 years, their understanding of our business helped the whole legal process significantly. Their team of commercial solicitors has the experience to advise on, and bring to completion, these sorts of overseas transactions whilst ensuring the process progresses professionally and as efficiently as possible.”