FRP advises on European acquisition of specialist engineering firm
Designer and manufacturer of high-pressure fuel injection pipes, Giro Engineering, has been acquired by global engine and turbine management specialist HEINZMANN in a deal supported by FRP.
Our Corporate Finance team advised Southampton-based Giro Engineering on the deal, which will enable the business to benefit from HEINZMANN’s global reach. Giro will continue to operate as a standalone business and expects to promote its bespoke diesel engine fuel injection pipes to a range of new international markets. The deal will also provide the opportunity for Schönau-headquartered HEINZMANN to expand its product range. With the acquisition of Giro Engineering, HEINZMANN will now manufacture the full range of components in its Common Rail Fuel Injection System in-house.
Dani Patel and Joel Coulson of FRP’s Corporate Finance team advised Giro’s shareholders on the deal, securing an equity sale. Founded in 1980, Giro Engineering products are trusted by many of the world’s premier engine builders. Meanwhile, HEINZMANN boasts more than 100 years of expertise providing diesel engine technology and control solutions to businesses in the industrial sector.
Commenting on the deal, Dani Patel said: “We continue to see that European buyers have an appetite to invest in dynamic British businesses. Giro and HEINZMANN operate in a specialist market where significant value can be achieved through strategic acquisitions. Both businesses have clear synergies which will provide opportunities for further growth. We wish them every success for the future.”
Craig Parker, Director at Giro Engineering, added: “We have very much enjoyed working with the team at FRP during this process and their skill and commitment to delivering what was a mutually beneficial deal for all involved was key to this. Right from the start of this process, the continuing support and success of our customers, and the well-being of our employees, have been a critical element in our choice of purchaser. We believe that HEINZMANN is a really superb company with a well-matched culture and ethos which will herald an exceptional future for us both. We also want to thank Professor Ian Ryder for his personal support and dedication in getting this across the line.”
Markus Gromer, CEO of the HEINZMANN Group, said: “HEINZMANN consistently pursues the strategy of being a provider of comprehensive, high-quality Common Rail Systems.”
Industrials & manufacturing
Selling a business
We continue to see that European buyers have an appetite to invest in dynamic British businesses. Giro and HEINZMANN operate in a specialist market where significant value can be achieved through strategic acquisitions.Dani Patel Corporate Finance