KBS Corporate advises on the sale of Lodent Precision Limited
Lodent Precision Limited has been acquired by Beroskin Limited for an undisclosed sum.
Lodent Precision is a precision engineering specialist with a primary focus on the manufacturing of new press tools for the automotive industry. The company began trading in 1978 in the West Midlands. Lodent Precision remained in the county and later was awarded with the Black Country Business of the Year Award due to their service to the engineering sector.
The shareholders of Lodent Precision instructed KBS Corporate with the sale of their business in order to facilitate their retirement plans, although both Paul Riley and Jeff Bates will remain with the business for a period of time post-transaction.
Following strong interest from a number of parties and three competing offers, the ultimate buyer was Beroskin Limited. Beroskin Limited is controlled by Valery Beroskin and now comprises two engineering companies, with further acquisitions anticipated as the company seeks to become a multi-purpose engineering group.
Guy Haynes, Corporate Director at KBS Corporate, advised on the deal alongside Andy Melbourne and commented,
“I’m delighted for Paul and Jeff – while they are required in the business in the short term, they can now start to look forward to a well-earned retirement. Lodent is a highly-regarded company that has thrived despite the uncertainty within the automotive sector, and which has the potential to grow further with the right guidance.”
Legal advice was provided for the sellers by EMW (Simon Arkell and Sean Halliwell) and for the buyers by Keystone Law.