Dickinson Dees advises on £30.7m sale of McKechnie Engineered Plastics
Leading law firm Dickinson Dees has advised manufacturing buy-out group Melrose Plc on the sale of Stamford Bridge-based McKechnie Engineered Plastics in a £30.7m deal.
Melrose, which specialises in buying manufacturing and engineering businesses and improving them prior to sale, has sold McKechnie to Swedish plastics company Rostistella. The company makes plastic injection mouldings, with Jaguar Land Rover one of its biggest clients.
The team at Dickinson Dees was led by head of corporate Simon Watts and assisted by director Alistair Scott-Somers and Naeem Hashmi.
Simon Watts said: "We are delighted to have helped Melrose Plc with this significant deal, which represents the culmination of Melrose's successful involvement with McKechnie.
"It is especially satisfying to see our Leeds office working on a Yorkshire transaction for a leading London-based FTSE 250 company, and once again clearly demonstrates how effectively we can work with these companies."
Alistair Scott-Somers added: "McKechnie is now in a much stronger position than it was when Melrose bought the company. The sale to Rosti will help provide the opportunity of further investment and a platform for additional growth. It was a privilege to be involved."
Simon Peckham, CEO of Melrose, said: "The corporate team at Dickinson Dees delivered first-class legal advice for us and were extremely responsive and commercial in their approach, enabling us to complete the disposal of McKechnie with maximum efficiency and minimum fuss. We would like to thank the team for their excellent efforts."
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