Oxford: Manches acts in automotive acquisition

A team of corporate lawyers at the Oxford office of Manches LLP acted for AWC Industries and Wild Manufacturing Group on their acquisition of the ITW Siewer business in Hungary and ITW Highland business in the UK from Illinois Tool Works (ITW), a New York Stock Exchange listed manufacturer.

AWC Industries has two manufacturing automotive plants in the UK: Wild Manufacturing Group is a specialist precision pressing and machining company located in Birmingham and Wild Springs & Wireforms, located in Redditch, is a supplier of wires springs and wire assemblies to the automotive industry.

The acquisitions add new automotive assembly and pressings capacities and additional business opportunities to the group and represent a vote of confidence in the sector in the face of currently challenging market conditions.

The Manches team, led by corporate partner Peter Angel and senior associate James Went, has worked with AWC and Wild for many years, witnessing the group’s development of a worldwide reputation as a precision component manufacturer. Angel commented: "It is always a pleasure to work with the team at Wild and, given the current difficulties that the motor industry is facing globally, it is heartening to be able help the company with its continued expansion plans."

AWC chief executive Allan Cook added: “These latest acquisitions demonstrate our commitment to constant development and innovation and we were pleased to have Manches’ support in making the deal happen. The Manches team worked hard to finalise the deal on time and to budget”