Vehicle Parts Business Sold To Unifrax
A real estate specialist at Irwin Mitchell advised Dyson Group as part of the organisation’s sale of its vehicle parts business Saffil to US firm Unifrax.
The deal for the Widnes-based company will see up to 300 members of staff transfer over to Unifrax, in a move which, following completion of the deal, will result in Dyson's outstanding secured bank debt being repaid.
Dyson was advised throughout the deal from a range of experts from bodies including Lincoln International, Ernst & Young and DLA Piper, as well as Martyn Holland, a real estate specialist from Irwin Mitchell’s Sheffield office. Specialists from Irwin Mitchell’s Leeds office represented the Saffil pension fund.
Commenting on the deal, Martyn said: “Irwin Mitchell has advised Dyson for many years and we were pleased to represent the company in what was a crucial deal for it and which lays the foundations for Dyson’s future financial stability.”