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Pearson Hinchliffe Commercial Law’s Company & Commercial team has advised York Detection Systems, a leading edge provider of metal detection systems within the international textile industry, on its acquisition by Mettler-Toledo Safeline, the metal detection division of the US$ 2 billion Swiss-US giant Mettler-Toledo International Inc. (listed on the NYSE: MTD).
Based in Oldham in the North of England, York Detection Systems is an innovative provider of metal detection systems within the global textile industry. The acquisition represents a strategic move into the textile manufacturing sector for Mettler-Toledo Safeline, which provides precision instruments and services for use in laboratory, industrial and food retailing applications.
Although the deal will accelerate the capitalisation of R&D projects within the target company, the investment will primarily enable it to build on opportunities in the UK and overseas, giving it direct access to one of the worlds largest sales, marketing and service infrastructures in Mettler-Toledo Safeline.
Along with his partners Geoff Street and Steve Howard of Howard and Street Engineers Limited, Managing Director Khalid Alvi provides the driving force behind York Detection Systems. He is an electronics and design engineer by training with a career spanning two decades at the cutting edge of bespoke scientific instrumentation including projects for NASA, while Howard and Street is the highly regarded engineering firm taking the lead role in the technical development and manufacture of the needle detection system.
Commenting on the acquisition, Mr. Alvi said,
“We are delighted to announce the deal with the world’s number 1 industrial metal detection manufacturer, Mettler-Toledo Safeline. Our business is geographically diverse which brings with a unique set of challenges. With this deal we bring to the table an enviable roster of global retail and manufacturing brands employing our detection products. Yet the international textile manufacturing market is vast and penetrating new regions whilst maintaining a focus on innovation requires sizeable capital investment and resourcing.”
“Fortunately, despite our comparative smaller scale, Mettler-Toledo Safeline were aware of our reputation for introducing high-performing metal detection products to the textile manufacturing industry and were quickly able to align objectives and seize the opportunity to invest in our expansion plans. As such, the key focus of our growth strategy is the Far East. To date we have over 200 installations in 30 countries and I can confidently say we offer our users the best technology in the world.”
The transaction was led by Company and Commercial partner Roger Hinchliffe. He commented,
“York Detection Systems is a business with an exceptional product range but a business that, it is fair to say, had reached a critical juncture in its development despite previous funding from various sources including the DTI. This acquisition will give Mettler-Toledo Safeline a much enhanced presence particularly within the area of needle detection to the textile manufacturing industry, and its new acquisition the ability to realise ambitious plans. We were presented with an excellent strategic fit for both parties which made our role very straightforward. We were very pleased to work with them on this matter, which brought together resources from across the firm in order to achieve a successful conclusion."
The acquisition was completed in December 2007 and cleared for reporting in February 2009.
To discuss your plans to merge, sell or acquire a business or company, click here to speak to a specialist commercial lawyer.
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