Acquisition of an English manufacturer

Sherrards have recently acted for Participation Gestion Developpement Industriel (“Sphering Group”) a listed French company. The Sphering Group is a major player in air care in Europe with renowned expertise in innovative ventilation systems. The Sphering Group sought to expand its European presence with a location in the UK and targeted a competitor, SFL, being a manufacturer of flues and chimneys with well-established distribution in the USA and Far East.
Sherrards assisted on what was Sphering Group’s first targeted UK acquisition of a trading business. The deal took almost 2 years to complete due to cross-jurisdictional complexities, resulting in a complicated escrow fund held by JP Morgan on behalf of the parties against any potential claims associated with the trading business. The acquisition adds R&D capabilities to Sphering Group’s existing operations in France, Italy, Belgium, Germany, and Poland. With the integration of SFL, the Group now employs 800 people across Europe