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Outset supports Kent acquisition
Outset UK has supported Woodfield Systems Ltd - world leaders in the design and manufacture of marine loading arms and swivels in their acquisition of the Marine Loading Arm division of Loadtec Engineered Systems Ltd.
The strategic move comes at a time when the Loadtec Marine Loading Arm business has enjoyed strong sales and growth over the past two years thanks to their revolutionary designs and strong consumer appeal, which will add further weight to the established Woodfield product portfolio.
Under the control and extensive resources of Woodfield Systems, the Loadtec Marine Arm brand will develop and play a key role in fuelling the company’s continued expansion across the European, African, Middle Eastern and Asian markets. Woodfield will also acquire the core Loadtec Marine Loading Arm team, whose extensive knowledge and experience will positively bolster the Woodfield team.
The deal, completed for an undisclosed sum, was supported by progressive professional services firm, Outset UK. Lead Corporate Lawyer at Outset, Jonathan Williamson said “It was a pleasure to act for the team at Woodfield Systems again. This deal represented a key strategic acquisition and required our team to look at both domestic and cross border issues to try and remove any legal obstacles to the commercial objectives of both parties. I am sure it will prove a huge success.”
Leading firm of accountants and business advisors, Kreston Reeves introduced and also supported the deal. Corporate Partner, Scott Miles said “Woodfield Systems are a leader in the marine loading arm sector and this acquisition represents a great opportunity for the company to expand its offering and continuing to be a leader in developing innovation to the sector. It was great to work with the Directors and Outset to deliver on this amazing opportunity.”
The Directors of Woodfield Systems Ltd said. “This is an exciting time for us. The strength and depth this acquisition brings to our existing product range and team is vital to our growth plans and we thank the teams at Outset and Kreston Reeves for helping the deal run as smoothly as possible, resolving issues quickly and within a tight deal timeline.”