Alantra advises Carr’s Group Plc on the sale of its Engineering Division to Cadre Holdings Inc.
SECTORIndustrials
ServiceM&A
London- Alantra has acted as the exclusive financial advisor to Carr’s Group Plc, a diversified agribusiness and engineering group, on the sale of its Engineering Division (excluding Chirton Engineering) to Cadre Holdings Inc., a NYSE-listed global supplier of safety equipment to the Nuclear, Military, law enforcement and first responder markets. The transaction, valued at £75 million, represents a significant step in enabling Carr’s strategic focus on its Agriculture Division.
Located across sites in the United Kingdom, Germany and the United States, Carr’s Engineering Division comprises five individual business units specialising in the design and manufacture of robotic handling machines, precision manufacturing of vessels and components, and the provision of technical engineering solutions to critical end-markets including Nuclear, Defence, and Energy. These businesses have demonstrated strong growth, supported by a robust order book and substantial opportunities driven by public sector investment in nuclear decommissioning and the broader Energy Transition market.
The transaction is anticipated to close in the first half of 2025, subject to the satisfaction of customary regulatory closing conditions.
As part of the transaction, Chirton Engineering, a precision engineering business focused on the Oil & Gas industry, has been carved out of the Engineering division and will be the subject of a separate sale process.
Alastair Horrocks, Managing Director at Alantra, commented: “This transaction highlights our ability to identify highly motivated strategic cross border buyers and deliver complex carve-outs, across multiple jurisdictions in highly specialised sectors. Our approach successfully delivered Carr’s objectives from the sale process, including maximising value for Carr’s shareholders.”
David White, Chief Executive of Carr’s Group Plc, added: “Alantra’s international reach and absolute hands-on commitment to the process were instrumental in ensuring a successful outcome. Their understanding of the nuances involved in separating the Engineering Division from our Plc structure and aligning it with the right strategic buyer has been invaluable.”
The transaction follows on from Alantra’s recent successful run of completed deals in the Industrials sector, including advising Aebi Schmidt (Swiss) on its merger with The Shyft Group (USA) to create a global specialty vehicles leader, advising Quexco (USA) on the acquisition of Mutlu Akü (Turkey), an automotive battery manufacturer, advising medneo Group on the strategic sale of medneo UK to CVC DIF, and advising Aspen Pumps Group (UK) on the acquisition of Malco Tools (USA), a tools manufacturer for the HVAC and building construction industries.
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