Ward Hadaway advises on Monitor Coatings sale
25th April, 2013
LAW firm Ward Hadaway has advised on the sale of an industrial coatings specialist to a multi-national group.
Corporate experts at the UK Top 100 firm provided legal advice to the owners of Tyneside-based Monitor Coatings Ltd on its sale to German giant Messer Cutting Systems for an undisclosed sum.
Monitor Coatings provides high-quality coatings for customers in a range of industries, such as aerospace, oil and gas exploration, steel and alternative energy generation, where problematic hostile environments make high performance an essential operational need.
The company’s clients include the likes of Rolls-Royce, Tata Steel, Halliburton and Bombardier and it has manufacturing facilities in Singapore as well as its headquarters in North Shields.
Monitor Coatings is a long-standing client of Ward Hadaway, which has advised the company on a range of matters mainly in the commercial, corporate and intellectual property fields.
A team led by Ward Hadaway’s Head of Corporate Martin Hulls advised Monitor Coatings on its sale to Messer Cutting Systems.
Martin Hulls said: “We are delighted to have assisted such a long-standing client to achieve a successful sale to one of the largest multi-national manufacturing specialists in the world.
“Monitor Coatings is a highly respected company in its field and provides products which have to cope in some of the most extreme environments across the globe.
“The company will now be part of a major multi-national group and we wish it every success going forward.”
Monitor Coatings’ workforce will now become part of MEC Group, which operates through its three divisions Castolin Eutectic, Messer Cutting Systems and BIT Analytical Instruments in over 120 countries and production sites in Asia, North and South America and Europe, including a base at Cramlington in Northumberland.
Dr Bryan Allcock of Monitor Coatings said: “This is a very important move for Monitor Coatings so we are grateful for the help and support from Martin and his team at Ward Hadaway in advising on the sale of the company.
“In situations like this when you are dealing with a multi-national company it is reassuring to have true experts in your corner giving the right advice at the right time and this is what Ward Hadaway provided.”
The deal is the latest in a series of transactions in the oil and gas engineering sectors which Ward Hadaway has advised on.
In December 2012, the firm advised Gateshead-based Responsive Engineering on its sale to The Reece Group. Responsive provides manufacturing services including machining, welding, pressing, assembly, testing as well as laser and waterjet cutting, mainly to the oil and gas industries.
Ward Hadaway also advised Ashington-based hydraulic torque and tension products manufacturer Torque Tension Systems Limited on its sale to Fortune 500 US manufacturing group SPX Corporation.
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