ORBIS ADVISES ON THE SALE OF HL SMITH (TRANSMISSIONS) LTD
BUSINESS OVERVIEW
HLS is a leading independent remanufacturer of heavy-duty commercial vehicle drivetrain and steering systems. The Wolverhampton-based business has full capability for engineering and remanufacturing of manual and automatic transmissions, drive heads and differentials, power steering boxes and prop shafts. HLS provides units for HGV trucks, busses & coaches, military vehicles and selected light commercial vehicles.
ATC serves the global automotive industry from its facilities in the USA, United Kingdom and China. The company supports automotive OEMs, independent aftermarket distributors and individual consumers by providing remanufactured powertrain and drivetrain solutions, including engine, transmissions and transfer cases.
The support and advice offered by Orbis through the whole process was of the highest professional and personable standard and never at any time left us doubting our choice of partner. The sale of a long-standing family business is not always an easy road to take in many ways, but we could not have had a better team to guide us on the journey.
Russell Smith, Owner
OUR ROLE
Orbis were retained by the company to advise on the sale strategy and to lead the sale process:
Specifically, Orbis:
- Led an options review to help the shareholders and management understand and evaluate exit options and strategies
- Researched, identified and approached buyers in the UK, continental Europe and the USA
- Produced all marketing information
- Led presentations to interested parties
- Negotiated the transaction including price and structure
- Prepared the business for due diligence and supported management through the process
- Worked in conjunction with the lawyers to agree SPA
- Overall project management through to a successful conclusion
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