Firm advises Marubeni Corporation on key acquisition
18 May 2012
Field Fisher Waterhouse LLP has
advised Marubeni Corporation on its share acquisition of Spaldings
Holdings Limited, a leading supplier of farming, agriculture and
groundcare equipment and tooling in the UK and Europe. Marubeni
Corporation has purchased a majority controlling interest in
Spaldings whilst a minority equity stake will be retained by
existing shareholders.
Spaldings is unique in its market position in
dealing directly with 35,000 UK and Ireland land managers,
principally farmers, local authorities and their approved
contractors that are serviced via a direct sales force, telephone
sales and e-commerce trading. Spaldings reported sales of £23
million and operating profit of £2.4 million in their last
published accounts.
The Marubeni Corporation is one of the largest
trading companies in Japan with world-wide interests across varying
markets including food, forestry, chemicals, energy, minerals,
power, finance and transportation and machinery. Marubeni reported
sales of US$42.3 billion for the year ended 31 March 2011.
Spaldings will become part of Marubeni, whose other interests in
the UK include the sale of agrochemicals, agricultural machinery
and other transportation equipment.
Corporate partner David Wilkinson led on the deal
and was assisted by associates Tom
Ward and Jennifer
Martin. The deal involved pooling the expertise
of over 30 of the firm's fee earners including, tax, banking & finance, property, employment, competition,
pensions,
trade
marks, IP and technology.
David Wilkinson said: "The acquisition
represents another strategic move by Marubeni into the UK and
European markets, and highlights the firm's expertise in acting on
cross-border M&A deals and assisting foreign multi-nationals on
inward investments in the UK."
For further information, please
contact:
Paula Nugent, PR Executive, Field
Fisher Waterhouse LLP on 020 7861 4526
Louise Eckersley, PR Manager,
Field Fisher Waterhouse LLP on 020 7861 4120