World-leading supplier purchases Huddersfield-based expert in its field
Leading UK law firm Shoosmiths has advised private equity house, Capiton AG via its investee company Dec Group on the purchase of Extract Technology.
Established in 1981, Extract Technology is a worldwide supplier of containment and aseptic systems for the pharmaceutical, healthcare, biotech and chemical markets. It has dual manufacturing sites in Huddersfield and Wisconsin and in 2012 joined the NYSE-listed Wabash National Corporation, an innovation leader in the transport, logistics and distribution industries.
Lausanne-based Dietrich Engineering Consultants (Dec) Group is a global supplier of powder handling and process containment equipment for the pharmaceutical, chemical, food and cosmetic industries. Its custom-designed systems enable the safe and sterile transport of hazardous and potentially explosive powders in more than 50 countries.
The Leeds Corporate team advising on the transaction at law firm Shoosmiths was led by partners James Foster and Simon Procter along with principal associate Natalie Hager and associate Jess Wetherop.
James said: “This is an exciting and strategic acquisition for the Dec Group which will see it further enhance its product lines, adjacencies and provides it with a fantastic platform to further expand both its UK and US operations. It has been a pleasure to advise both the Dec Group and Capiton and we look forward to working together again in the future."
The purchase supports Dec’s strategy of acquiring complimentary technologies and will expand its manufacturing capability in the UK, EU and North American markets.
Dec Group’s US legal adviser was Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC in relation to the transaction. Dec Group’s Singapore legal adviser was TSMP Law Corporation and its financial adviser was UBS. Wabash National Corporation’s legal advisers were Foley & Lardner (US) and Travers Smith (UK) and its financial adviser was Cowen Inc. PwC supported the Dec Group on financial due diligence and EY provided Tax advice to Dec Group.