Global law firm Clyde & Co advised Liberty House Group, the international metals manufacturing and engineering business, on its acquisition of auto parts manufacturers, AMTEK Aluminium Castings (Witham) and King Automotive Systems Limited, both in administration.

In an important deal relating to a vital part of the UK and EU automotive supply chain, Liberty, part of the GFG Alliance, acquired the two businesses and certain assets of the companies from the administrators, in order that they could be rescued and continue to trade. The businesses have now been renamed Liberty Aluminium Technologies.

The deal was led by Partner Andrew Foster, assisted by Andrew Ramsden and other members of the Insolvency and Reorganisation team at Clyde & Co.

    Andrew Foster, Partner at Clyde & Co, comments: "We are delighted to have worked with both Liberty House Group and the two companies’ customers, to ensure a successful outcome for all parties."

    "As a result of the deal, Liberty was able to safeguard in excess of 550 jobs, whilst at the same time ensuring that the companies' two largest customers, both major international car manufacturers, were able to continue manufacturing engines in the UK and across Europe. It’s good news for the economies of the local areas concerned.”

The deal closed on 20 July 2017.

    Dr Douglas Dawson, Chief Executive of Liberty Industries Group, part of Liberty House, said: “Given the strategy to build our footprint in the automotive supply chain, this was a hugely important acquisition for us. However, securing the asset was a complex process and we greatly valued the skill and experience of the Clyde & Co team in navigating the way through to completion. We’ve since very quickly stabilised the business and now look forward to growing Liberty Aluminium Technologies strongly in the years ahead alongside a growing demand.”