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Womble Bond Dickinson (WBD) has advised client Endless on the sale of hydraulics business Edbro to a Turkish-based buyer.
Edbro is one of Europe's key manufacturers for hydraulic cylinders for the ‘on-road’ tipper truck market and other ‘off-road’ applications. The Bolton-based specialist has been acquired by Orsan Automotive Limited, a subsidiary of Orsan Industries Incorporated.
The £100m-turnover Turkish group has multiple locations in Turkey and Mexico, manufacturing component parts for the heavy-duty vehicle (HDV) sector since 1972.
In May 2021, Edbro was acquired by Enact, the SME platform of Endless, from its then German parent company, JOST Werke AG.
A WBD team led by corporate partner James Cook and managing associate David Ridley advised Endless with support from solicitor Ellie Jefferson.
Richard Harrison, Endless Partner said:
"Orsan represent a fantastic strategic fit for Edbro and the Company and its employees will benefit from being part of a larger group that can help it to further develop its commercial offering and penetrate new international markets.
"James, David and the rest of the WBD team have been instrumental in getting this deal across the line. Their Private Equity experience, especially in cross-border deals like this, was incredibly helpful when navigating the complexities that arose."
James Cook commented:
"These transactions exemplify Womble Bond Dickinson's commitment to fostering robust and productive partnerships with Endless and Enact. Our team’s expertise and dedication were crucial in delivering a positive outcome for our client."
The transaction underscores the strength of WBD's capabilities in the Private Equity sector and its dedication to supporting clients like Endless in their strategic endeavours. The firm recently advised Endless-backed Kennelpak on the sale of Pets & Friends retail chain to PSR Trading, a deal that was also led by James and David.
