Blake Lapthorn advises on the sale of Coolmation Group to Swegon
Blake Lapthorn has represented the founder and majority shareholder of the Coolmation group of businesses, Gary Franklin in the sale of the group to Swegon Limited, a subsidiary of Swegon AB. The value of the deal is undisclosed.
Coolmation specialises in the supply, installation, service and hire of chillers, heat pumps, cooling equipment and systems for industrial and commercial applications. The company, headquartered in Ringwood, has five sites in the UK, employing approximately 70 staff.
Swegon Limited is the UK subsidiary of Swedish ventilation and indoor climate systems manufacturer Swegon AB, which is backed by the private investment company, AB Latour. The Swegon group has 1,350 employees worldwide and a turnover of €280 million.
The complex cross-border transaction was completed by a team of specialist advisers, co-ordinated by Meridian Corporate Finance, on behalf of the sellers.
The Blake Lapthorn team providing legal advice to the major shareholder comprised Manoj Styche-Patel (Head of Corporate), Mathew Wilson (Corporate), Dan Curtis (Real Estate) and Graham Brown (Employment). The minority shareholders were represented by Trethowans solicitors. Swegon was advised by Vinge in Sweden and DMH Stallard in England.
Manoj Styche-Patel commented: "We are delighted to have been able to assist our long-standing client, Gary Franklin, in a highly successful transaction to dispose of the Coolmation group. With over 35 years' experience in the cooling industry, the management has always been forward thinking and keen to embrace change so will view this as an ideal opportunity to forge forward and continue to offer its clients a high quality service."
Gary Franklin, Coolmation's founder said: "Having taken the decision to sell, being in the hands of the team at Blake Lapthorn, who know our business well, was reassuring and they worked excellently as a team with our other advisers, managing the cross-border intricacies, and to bring about a great result. I would not hesitate in recommending them to anyone who is looking to sell their business."