BLP advises on the disposal of The International Cooling Group
Berwin Leighton Paisner LLP (BLP) has acted on the disposal of the International Cooling Group (ICG) to the Dutch based Refrigeration Division of the German listed group, GEA Group Aktiengesellschaft.
ICG manufactures evaporators and condensers for the industrial refrigeration markets under the brand names Searle, Raffel and Dawmec at facilities in England, France and Germany. In 2007 ICG had 500 employees and generated worldwide sales of approximately €70m.
The team acting on the sale was led by corporate partner Keith Stella, with associate Manu Chopra assisting.
Commenting on the deal, Keith Stella said, “We have acted for the selling shareholders on a number of matters over the years, including their acquisitions of stakes in ICG in 2002 and 2007. It is very pleasing therefore to have been asked once again to look after the interests of the selling shareholders on this latest change of control. This deal reinforces our commitment to long-term client relationships and BLP’s ability to project manage complex multi-jurisdictional M&A transactions.”
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