Cattaneo Corporate Finance has advised Parweld on acquisitions in Spain.
Cattaneo Corporate Finance has advised Parweld, the manufacturer and wholesaler of welding equipment, on its acquisition of two businesses based in Valencia, Spain, which distribute welding machines and supplies across the Iberian peninsula.
The acquisition comprises sister companies Reinsol Soldaduras y Manteninimiento SL, a distributer of a wide range of machines, tools, accessories and consumables, and Parweld Torch Technology SL which serves as the distributor of Parweld’s product portfolio throughout Spain. The acquisitions allow the companies’ founder to retire following a handover period.
Parweld is a leading global brand in arc and gas welding torches, welding machines, consumables and personal protection equipment. It offers high quality products and service to a customer base comprising wholesalers and distributors worldwide from its headquarters and distribution facility in Bewdley, Worcestershire, and manufacturing facility in Jiangsu, China. It sells through a network of distributors in the UK and Europe as well as Africa, Asia Pacific and North America. The acquisitions take Parweld group turnover to more than £20m.
The Cattaneo team of Martyn Pilley and Jordan Phillips led the negotiations on the acquisition and project managed the process involving legal and corporate finance advisers in Spain. Parweld received legal advice from the Madrid office of Mariscal & Abogados.
Commenting on the acquisitions, Parweld Managing Director, Graham Perry, said:
“We are pleased to have completed the acquisition of two businesses that are highly regarded in the Spanish market for their range of welding supplies, technical know-how and level of service. Under Parweld’s ownership we intend to invest to broaden their product ranges and to expand further into adjacent geographies.”
Martyn Pilley of Cattaneo commented:
“Having been advisers to Parweld since its MBO in 2019, it is rewarding to have completed this important transaction which strengthens Parweld’s business in the region while providing a platform for continued growth in European markets.”