About the client
Lock Inspection is a leading provider of industrial production line metal detection systems, based in Chadderton, Oldham. It is the world’s foremost provider of systems for the pharmaceutical sector and a major player in the food production and textile manufacturing markets, serving clients in over 50 countries across the globe.
About the deal
Rickitt Mitchell led the negotiation of detailed Heads of Agreement, increasing the deal value by 22% and then clearly defining the offer and its key terms, as well as setting out the anticipated position with the competition authorities.
The buyer raised issues on taxation, working capital items, property and stock valuation. Rickitt Mitchell led the response, defending client value and assisting in reaching agreement between shareholders with differing views.
"We reached completion happy in the knowledge that we had found the best buyer for our business in terms of its prospects going forward and had got the best price we could for it. We are grateful for the important part Rickitt Mitchell played in helping us achieve that."David Garnett | Managing Director | Lock Inspection