Ashtons Legal advises on the sale of Milltech Holdings Limited

Posted 18/03/2015

Ashtons Legal has recently advised the shareholders of Milltech Holdings Limited on the sale of their shareholding in the company to Indutrade UK Limited which is the UK operation for the Swedish group Indutrade AB.

Norwich based Milltech are an award winning specialised precision engineering machining and assembly sub-contractor and have grown significantly in recent years.  Following the sale, Milltech will continue to be run and managed by the existing team but with Indutrade representatives joining the Board of Directors.

The Ashtons Legal team was led by Corporate Solicitor Matthew Downing and assisted by Commercial Property Solicitor Howard Bailey and Employment Partner Ross Strowger.  Accounting advice was provided by Lees Accountants, led by Chris Bidgood.

Mike Ottolangui and Darren Osborne, on behalf of the selling shareholders, said: “Becoming part of Indutrade will allow Milltech to continue to grow with the support of a progressive financially sound international group.We have been fortunate throughout the transaction to have been supported by the Ashtons Legal team, who have offered sound commercial guidance through a complex process.”

Matthew Downing added: “It has been a pleasure advising the shareholders on this transaction and to work with Nabarro LLP (acting for Indutrade) and Indutrade in order to complete this deal. The acquisition by Indutrade really compliments Milltech’s existing business and provides for a very promising future for the company.”