Merger saves 80 local jobs
The takeover of a South Derbyshire company has saved over 80 jobs following a £1.6m deal with a privately-owned Swedish company, Dellner Invest AB.
Mike Copestake, senior partner and corporate finance specialist at regional law firm Freeth Cartwright who acted on behalf of Dellner, said: “Our role involved not just the acquisition of the business but also the grant of a new lease to Dellner Woodville Ltd by South Derbyshire District Council, who were highly pragmatic and, in the lease negotiations, did everything they could to ensure that this highly successful technology-based manufacturing business stayed in Swadlincote”.
Woodville are one of the two largest suppliers of gangways for railway carriages in Europe. Their products can be found in the TGV in France as well as on Metro systems across most developed countries. Amongst various other industrial products, they manufacture gummi-fronts - the rubber ‘nose’ at the front of many commuter trains.
Dellner Woodville Managing Director, John Blackham, said: “This deal has saved from closure, an important local manufacturer. Whilst, at present, over 75% of our production is exported we will now be in a position to take advantage of the growing demand for new rolling stock in the UK. We were delighted with Mike Copestake and the team at Freeth Cartwright who were with us every inch of the way.”
Mr Copestake said: “I was delighted to be involved with the transaction, particularly as it safeguarded the business from closure and secured jobs for local people.”
Woodville Rail based in Swadlincote, will trade under the name of Dellner Woodville Ltd
ends - 1 May 2009
For further information, please contact:
Mike Copestake, Derby managing partner
Tel: 0845 634 9791, email: mike.copestake@freethcartwright.co.uk