Orbis Advises On UK/French Merger
Orbis Partners alongside their international partner Clairfield France, have advised on the merger between Burgundy-based Tournus Équipement and Accrington-based CED Fabrications. Both businesses operate in the catering manufacturing industry offering complementary products.
Founded in 1910, Tournus Équipement is a management controlled producer of stainless steel professional equipment for the catering industry. The business is backed by private equity investors MML Capital, UI Gestion and BPI and generate annual revenues of more than €45m in 2015. Advised by Birmingham-based Orbis Partners, Tournus identified the merger with CED Fabrications as an opportunity to grow their product portfolio, a strategic decision backed by the wider group Tournus Expansion.
CED Fabrications, founded in 1991, employs around 150 workers from its Accrington headquarters and produces annual revenues of £11.5m. The UK-based business manufacturers refrigerated food displays, patisserie cabinets and food servery counters.
We were delighted to advise on this transaction working with our French Partners in Clairfield International. This is a further demonstration of the strength of our International capabilities in cross- border M&A.
Chris Gregory, Partner
Legal advice to the management team was provided by Peter McLintock at Mills & Reeve Birmingham.
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