DLA Piper has advised Lloyds Development Capital (LDC), on the circa £62 million MBO of Angus Fire, which was acquired from United Technology Corporation (UTC), a Fortune 500 US listed business.

The deal sees LDC take a significant equity stake in the business which has been formed via the acquisition of four international trading divisions of Connecticut-based United Technology Corporation; Angus Fire Products, Angus Fire Engineering, National Foam (US) and Eau et Feu (France).

Angus Fire, based in Bentham, near Lancaster, is the largest global manufacturer of firefighting products and technology. The group designs and manufactures fire hoses, industrial hoses, foam concentrates, powders and engineered firefighting systems. The business also manufactures large diameter industrial hoses for a variety of industrial applications, including water transfer for the large and growing hydro-fracking market. Angus Fire's customers are in the oil & gas, aerospace, firefighting, military, marine and utilities sectors.

Servicing the North American market, the National Foam business, which manufacturers foam concentrates in Westchester, Pennsylvania, fire and industrial hoses in Angiers, North Carolina, and engineered large capacity fire fighting monitor systems in Exton, Pennsylvania. The Eau et Feu business’ operation based in Reims, France manufactures small bore fire hoses and foam concentrates for the domestic fire services, while also exporting its products to markets within North Africa and Eastern Europe.

The DLA Piper team was led by partners Nick Roome and James Kerrigan who were supported by Paul Kelly, Louise Barber, Edmund Chan (UK Corporate), David Thompson (UK Tax), Howard Schwartz and Thomas Pilkerton III (US Corporate) and Anne-Laure Bardou (France Corporate).

James Kerrigan commented: "It has been a pleasure to have advised LDC on this complex transaction. The investment they have made will be used to increase capacity and drive operational improvements to support the continued growth of this market leading global group. We are very pleased to have used our international expertise to ensure they reached the desired result."

http://www.dlapiper.com/dla-piper-advises-lloyds-development-capital-on-mbo-of-angus-fire-07-09-2013/