Browne Jacobson has advised Concentric Pumps on its acquisition of GKN Sinter Metals de Argentina, a supplier of engine pumps in South America.
Concentric is a manufacturer of technology oil pumps, water pumps, fuel pumps and hydraulic systems.
With its global manufacturing and sales networks in Sweden, Germany, UK, USA, India and China, Concentric serves clients in a range of industrial sectors including transportation, construction and agriculture.
GKN Pumps was previously part of GKN Powder Metallurgy, which comprises GKN Sinter Metals and GKN Hoeganaes.
David Woolley, CEO of Concentric, said: “We have put a lot of effort into identifying acquisition targets that have processes, manufacturing capabilities and products which match Concentric’s quality standards and that also have a strong management team in place.
“GKN Pumps meets all these criteria and will improve Concentric’s ability to sell locally to our existing global customers.
“We plan to strengthen the local engineering capabilities in line with the group’s global strategy to source, manufacture and provide applications support locally to our customers.
“I am also confident that, in the long-term, GKN Pumps will deliver margins in line with the rest of the group.”
The Browne Jacobson team comprised corporate lawyers Roger Birchall and Tina Robinson.
Corporate finance partner Mr Birchall said: “Concentric is an exciting business to work with and we are delighted to have been able to help the Concentric Management in implementing their strategy to increase Concentric’s presence in the South American market to further enhance the offering to their global customer base.”
