Addleshaw Goddard, has advised the Acrotec Group on its acquisition of Takumi Precision Engineering Limited on 19 July, a deal which will see the Swiss based company strengthening its MedTech portfolio, following its acquisition of Team-Metal in Singapore last year.
The Addleshaw Goddard team was led by corporate partner Gavin Doherty and included Lorna Osborne (Managing Associate, Corporate), Peter Woods (Associate, Corporate), Aidan McMahon (Associate, Real Estate) and Alison Devine (Associate, Employment). The acquisition makes Limerick-based Takumi the tenth company to be acquired by the Acrotec Group, a global independent micro-mechanics group, with specialisms in not only MedTech, but high precision components for the electronics, aerospace and automotive industries, as well as the Swiss premium mechanical watch market.
The deal will see the new Group member build on its reputation as a leading CNC precision engineering company, manufacturing precision parts for highly regulated industries such as medical devices, aerospace, semiconductor and pharmaceutical. Ireland is home to more than 300 companies in the medical technology sector and many of Takumi’s medical technology customers are U.S. multinationals with European headquarters in the Limerick area.
Gavin Doherty commented:
“The investment to acquire Takumi is reflective of an emerging trend in the M&A industry, which sees engineering firms like Acrotec Group expanding its global reach. Ireland is a prime location for companies seeking acquisition opportunities in this way, buoyed by our highly skilled workforce and our geo-strategic location, which offers companies focused on their expansion a crucial bridge between the US and the EU. The AG team is delighted to have supported the Acrotec Group on this strategically important deal.”