Lancashire-based Metflex Holding Company Limited has announced it has been acquired by global technology group, Freudenberg, in a deal that will see it become part of its international Sealing Technologies division.
Founded in 1919 and based at premises in Great Harwood, Metflex specialises in the manufacture and supply of precision moulded components, rubber seals and diaphragms across a global multi-industry customer base. Its ability to offer a service that delivers material development, concept planning, full project management, tool prototyping and manufacture allows it to offer a fully bespoke product across a diverse range of applications.
Shareholders and Directors, Philip Rogerson and John Holland, will leave the company but Managing Director, Dermot McCarthy, will remain with the company together with the current senior management team.
Freudenberg is a globally active group of companies that has been under family ownership since it was founded in 1846. It is headquartered in Weinheim in South West Germany and operates on a global scale across numerous markets.
Its Sealing Technologies division is the industry-leading specialist in sealing applications and it supplies, as well as develops, products for customers across a wide variety of industries, including automotive, civil aviation, machine-building, ship construction, food, pharmaceuticals and the agricultural & construction equipment sectors.
Speaking of the transaction, Dermot McCarthy, commented, “The management team welcomes the technological expertise and solid financial strength of the Freudenberg Group and looks forward to the long term development of the company’s products and markets with renewed energy”.
“With this acquisition, we are strengthening our established businesses in general industry with additional innovative technical solutions”, said Freudenberg’s CEO, Dr. Mohsen Sohi.
Rob Richardson, Director, commented, “It has been a pleasure to support the Metflex team throughout this transaction. The company has been a longstanding client of the firm, working with Tony Whiteway at our Lancaster office for a number of years. Throughout the relationship, the team has worked closely with the shareholders and directors on the strategic, financial and operational plans to position the business as a market leader in its field and as an attractive opportunity for acquisition”.
Legal advice was provided to Metflex and the selling shareholders by Pinsent Masons with assistance from Andrew Senior and Catherine Hemsworth from its Corporate team and Andrew McCarthy from its Tax team, each based in the firm’s Leeds office.
Martin Smith of Spearing Waite LLP acted for Freudenberg.View all news