Lawyers from Sheffield have played a key role in the sale of a Midlands-based plastic components manufacturer to a Swedish-based global supplier of engineering systems.
Polyurethane Products Ltd, which has operations in Coventry and Retford, was advised by Irwin Mitchell’s Sheffield-based corporate team, which has represented the company since a management buy-out from Wyko Industrial Services in 2001.
In the intervening years, PPL has grown into one of the UK’s leading developers and manufacturers of polyurethane-based products, including bend stiffeners and cable protection products for offshore oil and gas sectors and for damping infrastructure, primarily for railways.
Now, it has been acquired by Trelleborg Engineered Systems for an undisclosed sum.
James Bullock and Adrian Massey from Irwin Mitchell advised PPL’s management.
Corporate partner James Bullock said: “Having represented the company since its MBO in 2001, we have seen this dynamic manufacturing company continue to expand its domestic and international markets and grow its profits over the last 10 years, despite the current economic climate.
“PPL is a market leader in its sector and proves that well managed, profitable manufacturing businesses remain very attractive to acquirers.”
The company was also advised by the Nottingham office of accountants RSM Tennon.