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Consilium Chartered Accountants has advised employee-owned Martin Precision on the firm’s acquisition by Evity Invest AB in Sweden.
The chartered accountancy firm said the deal will promote the growth of the Scottish engineering manufacturer’s Lanark site, fuel the development of new technology and protect its local workforce.
Consilum’s advisory team included corporate finance partner Linzi WIlson, tax partner Craig Coyle and director Siobhan Moore, who gave advisory and tax advisory guidance to the Martin Precision Employee Ownership Trust.
The deal built on an existing relationship between the two entities, with Consilium previously advising Martin Precision on its transformation into an Employee Ownership Trust (EOT) in 2023.
Martin Precision received support on legal matters from April Bingham and Stephanie Farrell and their team at Bellwether Green.
Evity Invest AB was advised by Delphi, Addleshaw Goddard, and KPMG Stockholm.
Martin Precision is an international supplier of precision-manufactured products to the aerospace, medical, and energy industries, with customers such as Rolls-Royce Aerospace.
Founded in the 1880s, the Martin name has had a long-standing link to engineering in the Lanark area.
Allan Caldwell, chairman of Martin Precision EOT, said: “The EOT board is delighted to have secured a transaction with new owners who share the company’s values and ambitions for the future. As trustees, our responsibility is to act in the long-term interests of our employee beneficiaries, and we believe this transaction represents a positive outcome for the business and its people.”
“On behalf of the Employee Ownership Trust board, I would like to thank our advisors at Consilium Chartered Accountants and our legal team at Bellwether Green for their expert guidance and support throughout this process. Their professionalism and insight were invaluable in helping the Board fulfil its responsibilities to act in the best interests of our employee beneficiaries and to deliver a successful outcome for the business.”
He added: “We would particularly like to thank Siobhan Moore and Linzi Wilson of Consilium and Stephanie Farrell and April Bingham of Bellwether Green for their outstanding advice and commitment throughout the transaction.”
Consilium’s Linzi Wilson said: “Bringing Evity into the UK market has been tremendously exciting and satisfying. Their investment will generate exceptional benefits for all parties and provide a catalyst for the next phase of growth for Martin Precision, as well as safeguarding its continued legacy in Lanarkshire.”
Evity UK managing director Philip Lofgren said: “Consilium’s pragmatic and grounded approach, coupled with their transparency throughout the process, made them a valued partner in this milestone transaction for Evity.”
“Martin Precision represents an ideal first investment in the UK, having demonstrated the strength and resilience of their business model over many years. As a long-term and committed owner, we take great confidence in their promising growth prospects. Under our decentralised management model, we will continue to support the existing leadership team and employees in scaling the business to its next stage of development.”
