George Green LLP advises on major business sale
Sandwell law firm George Green has advised one of the area’s leading engineering groups on the sale of one of its subsidiaries to an Indian castings group.
Cradley Heath based Westley Group, one of Europe’s largest ferrous and non-ferrous foundry and engineering groups, sold Mathers Foundry to WPIL Ltd for an undisclosed amount.
Mathers, based in Salford, is a leading supplier of steel castings to companies involved in the manufacture of pumps, valves, compressors, turbines, filtration and flow measurement equipment and general engineering components. These companies supply equipment for major projects throughout the world in industries including oil and gas, nuclear, paper, rubber, chemical and power generation.
The firm was acquired by Westley Group in 2008 from Weir Pumps.
Rob Salisbury, Westley Group’s managing director, said: “We are very pleased to have been responsible for the formation and development of Mathers Foundry, whose core competence of manufacturing complex, high grade steel alloys for use in challenging environments exactly complements the WPIL Group of companies.
“We are proud to have worked with the management team and all the employees in Mathers Foundry; the business will continue to be run from its facility in Manchester with its existing management team, led by Colin Toft.”
WPIL Ltd is quoted on the Mumbai stock exchange, and is one of the leading combined pump manufacturers and high grade alloy steel casting foundry groups in India.
Westley Group employs more than 200 people and has a turnover in excess of £26.6m (€30m).
Associate Clare Martin led the George Green advisory team and Clyde & Co represented WPIL Ltd.