Heligan advises on the sale of Birmingham based Cross + Morse

Cross+Morse, a privately owned specialised engineering and distribution business based in Great Barr, Birmingham, with a history dating back over 100 years, finalised its sale to Astwood Group. The business's core focus is providing high-quality mechanical power transmission products to a wide range of end markets, maintaining a respectable reputation across the industry.

David Shadbolt and Mike Scudamore, the former shareholders of Cross + Morse commented on the successful deal, saying, “It has been a pleasure working with Heligan Group on this transaction; they supported us throughout the sales process and were able to find a buyer who has long-term plans for the company. We would also like to thank all the employees for their support during our period of ownership and are excited to see the business enter its next chapter under new ownership.”

Michael Capewell, Director of Astwood Group commented, “After 18 months of searching for the correct acquisition I was uniquely aware of the quality required in the advisory team to ensure the deal was completed successfully, it was a pleasure working with Ben, Matt and all the team at Heligan.”

Matt Croker, Director at Heligan Group added, “It has been great to work with the Cross + Morse team on this successful transaction. We are pleased we were able to find a buyer who we think will be a true custodian of the business. We are pleased to have delivered a successful outcome for both the shareholders and the business.  In the UK and globally, there has been an increased appetite from buyers for focused engineering and manufacturing businesses with strong margins and a diversified customer base. With the increased political stability in the UK, confidence in the sector is rising.”

Matt Croker and Ben Robinson led the deal from Heligan. The sell side team also included MFG Solicitors (Legal), Prime Accountants (Tax and Accountants). The buy-side team included RJS Solicitors (Buyer Legal), Attwoods (Tax and Accountants) and Addleshaw Goddard (Banking Legal).

Sector: Industrial Products

Location: Birmingham, England

Website: www.crossmorse.com