The Birmingham office of Clearwater Corporate Finance has advised industrial investor Rubicon Partners Industries on its multi million pound exit from Sheffield-based manufacturer PCL Air Technology.
PCL has been acquired by HORN, a portfolio company of Indus Holding, a German group which owns 40 companies generating annual sales above £800 million.
PCL makes, designs and distributes tyre inflation and compressed air products. Its products are sold in more than 80 countries across the globe and still produces from its manufacturing base in Sheffield, as well as operations in India and China.
The Clearwater team that advised Rubicon on the sale comprised partners Jon Hustler and Constantine Biller and assistant director John Clarke.
Jon Hustler, head of industrials at Clearwater, said the sale of PCL represents Clearwater’s ninth industrials deal in 2011. He added: “This transaction exemplifies how niche engineering businesses in the UK are attracting interest from overseas. UK manufacturing businesses lead by example when it comes to competitiveness, innovation and geographic reach and as a result remain highly prized assets for large global players.”