Baldwins Group has announced it advised on the “successful” sale of Environmental Integrated Solutions Limited (EIS), a Birmingham-based supplier of air pollution control solutions to Ceco Environmental Corp. (CECO).
According to the firm, the acquisition of EIS has increased CECO’s solution capability, application depth, and knowledge expertise, as well as the coverage of its industrial customers across Europe.
The Baldwins’ team was led by corporate finance partner Rob Richardson, who provided lead advisory services with support from Phil Yarwood. In addition, Jenny Pape provided specialist tax advice on the transaction.
Rob Richardson, corporate finance partner at Baldwins Accountancy, said: “This was a complex transaction, made more difficult by the current Covid-19 pandemic and the working from home environment. I am proud of the way the respective advisors were able to work together to see this transaction through.
“Having worked closely on this assignment with Paul, Derek and David, I am delighted that we could help them achieve this result and wish them and the team at CECO all the best in the next phase of their journey together.”
Matt Eckl, CECO’s chief financial officer, said: “The acquisition of EIS gives us immediate access to new markets. It also offers a way into incremental markets and provides financial scale.
“This combination is a win-win, as EIS will leverage CECO’s supply chain in North America and CECO will gain access to EIS’s network of production partners in Europe, further expanding our lucrative asset light business model.”