Avingtrans plc has sold Peter Brotherhood Limited to Howden for £35m, with the support of law firm Shakespeare Martineau.
Avingtrans plc, which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, has a strong track record for successfully investing in and growing engineering businesses in highly-engineered, niche markets.
The disposal of Peter Brotherhood Limited has been orchestrated in-line with the Avingtrans plc’s long term Pinpoint-Invest-Exit (PIE) strategy, which aims to realise value for shareholders.
It marks the 16th deal completed by Shakespeare Martineau on behalf of Avingtrans plc in 13 years.
Keith Spedding, partner and business transaction and growth specialist at Shakespeare Martineau led the deal, he said: “This is another great success story from our long-term client Avingtrans – it demonstrates the huge potential of businesses that have the right strategy, investment and expertise behind them. Supporting Avingtrans’ successful buying of underperforming assets, rebuilding them and selling them on is exciting to be involved in.”