A Shakespeares legal team at has advised a world leader in the automotive parts and remanufacturing industry on the sale of its European activities in Belgium and the UK.
The team from Shakespeares' Birmingham office advised Cardone Industries on the deal. Having originally advised the family-run US corporate on the strategic acquisition of its UK-based operations in 2008, Gary Davie, corporate finance partner at Shakespeare’s, was invited to act on the subsequent disposal of its European business activities at the end of last year.
Cardone Industries’ car part manufacturing businesses in Wednesbury and in Belgium, have been sold to Car Parts Industries, part of Borg Automotive, based in Denmark, for an undisclosed sum.
Mr Davie, corporate finance partner at Shakespeare’s, said: “This was a complex international transaction involving parties spanning North America and three European countries. After acting for Cardone Industries Inc on their acquisition in the UK nearly four years ago, we were delighted to be invited to support them once more in these strategic disposals.”
