The Arlington Industries Group management team of Mark Franckel (Group CEO) and Simon Greenhalgh (Group CFO) were advised by Clearwater International on the facility. Mark Taylor (Partner) and Chiara Pettinicchio (Associate Director) led the process. The new facility has been provided as a club deal, comprising Wells Fargo and Shawbrook Bank.
With the new facility in place, the Automotive division of Arlington Industries Group acquired 100% of the share capital of Magal Engineering.
Magal Engineering is headquartered in Reading, UK and has global facilities located in France, India, Turkey, Germany and China. It delivers complex design solutions, engineering capability and manufacturing across a broad customer base. The business is a Tier 1 strategic supplier to major OEMs including Ford, Jaguar Land Rover, BMW, Daimler and Renault Nissan.
The acquisition complements and further strengthens Arlingtons global infrastructure across the automotive and aerospace sectors to provide genuine supply chain consolidation to all its customers. Crucially, the acquisition also sees Arlington expand its range of capabilities to now include design, engineering, component manufacture (pressing, coatings, plastic mould injection, piping etc.), assembly and complete aftermarket support.
Legal advice on the Magal acquisition was provided DWF led by Alasdair Outhwaite (Partner) and Katy Phillips (Solicitor). Banking advice was also provided by DWF and led by Jonathan Edwards (Partner) and Charlotte Walden (Solicitor).
Commercial, Financial and Tax due diligence was provided by Grant Thornton and led by Neil Barrell (Partner & Head of Global Automotive) and Pete Dawson (Partner).
Mark Franckel, Arlington Industries Group CEO, said: “Naturally we are delighted. An acquisition the scale and quality of Magal Engineering shows a significant statement of intent from Arlington and we are also extremely pleased to announce that we have retained Gamil Magal as the CEO of Magal Engineering.”
Following the acquisition, Arlington Industries Group will have global revenues of more than £180m and over 1,000 employees. The Group is looking to continue its expansion, initially via a new purpose built facility in Slovakia, and with further acquisitions, particularly focusing in the USA.