Founded in 1917, Slack & Parr is a market-leading supplier of high-precision gear metering pumps, hydraulics flow dividers and industrial pumps to customers around the world.
Avingtrans plc, which designs, manufactures and supplies critical components, modules, systems and associated services to the energy, medical and industrial sectors, has a strong track record for successfully investing in and growing engineering businesses in highly-engineered, niche markets.
Due to operate within Avingtrans’ subsidiary brand Hayward Tyler, the group plans to strengthen Slack & Parr’s market presence, improving operational efficiency and innovation.
Austen Adams, Divisional Managing Director at Avingtrans, said: “We are pleased to have completed this acquisition, which brings another globally-respected, British heritage brand under the direction of the Avingtrans team. The sorts of challenges this business has faced are familiar to us and we are experienced in resolving them, having successfully turned around other businesses under similar circumstances. Slack & Parr’s global footprint, combined with its well-invested operational capability, powerful brand, highly skilled workforce and large installed base provide a great opportunity to re-establish the business on a firm footing going forward.”
The deal follows Avingtrans’ recent offer for the radiology technology experts, Adaptix. Having previously been a minority shareholder, Avingtrans will take full ownership of the Cambridge-based company after majority shareholders voted for the deal, subject to certain further conditions including approval under the UK National Security & Investment Act.
Keith Spedding, partner at Shakespeare Martineau, who led both deals with the support of Jennie Davis, legal director and other specialists, said: “The cost of doing business is having an impact on nearly every sector, we expect to see more acquisitions by experienced international groups, like this one, in the medtech and engineering markets.
“Working with Avingtrans plc for more than a decade has been an exciting journey – we’ve seen them acquire quality businesses, build them and sell them and we have been able to support this growth with our international, corporate and medtech expertise.”
