Wragge Lawrence Graham & Co (WLG) has advised Sweden-based AxIndustries AB on its acquisition of the entire issued share capital of Acorn Services Group Limited (Acorn) from a group of individual shareholders.

AxIndustries AB, part of the 90-strong Axel Johnson International group, is a leading full service European supplier of bearings and transmissions. Its move to acquire Acorn, one of the UK's principal distributors of bearings, linear systems, power transmission and related services, strengthens its customer offering and increases its geographical coverage, making AxIndustries a more interesting partner for both customers and suppliers.

Julian Henwood, corporate partner and head of WLG's Nordic Desk, led the cross-firm team, comprising fellow partners Chris Brierley (banking & finance); Adam Bushby (pensions); Phil Clissitt (real estate); and Luke Kempton (IP); director Zoe Fatchen (tax); senior associates Caroline Frost (real estate); and Rebecca Jones (employment); associates Stephanie Brigham (banking & finance); Ben Goldby (pensions); Khurram Kayani (tax); Victoria Pearson (corporate); and Mike Reed (commercial).

The deal is the latest in a long line of transactions completed by WLG's Nordic Desk for Nordic headquartered clients. Other Swedish manufacturing companies for whom Julian has executed cross-border transactions in recent years include Anoto, Assa Abloy, Haldex, PartnerTech and Swedish Match.

Julian Henwood said: "This acquisition is clearly a strategic move by AxIndustries. Both companies have built excellent reputations for customer service in their relative markets, one of the many synergies that they share.

"AxIndustries now has an even stronger platform from which to build and increase its international presence and we look forward to supporting them with this in the future."

Per Helgesson, Chief Financial Officer at AxIndustries, commented: "Acorn is a significant acquisition for AxIndustries and WLG provided valuable advice and services throughout the process."

WLG's 60-strong corporate team has extensive experience across the full spectrum of corporate advice including equity capital markets on AIM and the Full List, investment funds, private equity and both public and private mergers and acquisitions.