Irwin Mitchell Advises Management team at AES Engineering Ltd on 3i Investment

Corporate Law expert advises on deal

10/10/2007

Irwin Mitchell has advised the management team at AES Engineering Ltd, a world leader in the mechanical sealing industry, on an investment by 3i.

The investment increases the equity stake of 3i in the business to 40% and values the business at £100M. The new funding will allow AES to continue its impressive growth and consider acquisition opportunities worldwide.

AES was founded in 1979 by Chris Rea, the current CEO, who retains a majority interest and control of the business. Over the last 25 years, the business has achieved an unbroken track record of turnover and profit growth.

Kevin Cunningham, Corporate Partner at Irwin Mitchell said "AES is a world class business that has grown from a start up to global number 4. This deal gives AES the platform to go onto even greater achievements and we are delighted to have supported Chris and his team."

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