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Browne Jacobson advises Concentric AB on acquisition of GKN Pumps

24 February 2015

Browne Jacobson has advised Concentric Pumps plc on its acquisition of GKN Sinter Metals de Argentina SA (GKN Pumps), a supplier of engine pumps in South America, for an undisclosed consideration.

Concentric is one of the worlds leading manufacturers of technology oil pumps, water pumps, fuel pumps and hydraulic systems. With its global manufacturing and sales networks in Sweden, Germany, UK, USA, India and China, Concentric serves clients in a wide range of industrial sectors including transportation, construction and agriculture.

GKN Pumps was previously part of GKN Powder Metallurgy which comprises GKN Sinter Metals, the worlds largest manufacturer of sintered components and GKN Hoeganaes which produces metal powder used in the manufacture of these components.

David Woolley, CEO of Concentric, commented:

"We have put a lot of effort into identifying acquisition targets that have processes, manufacturing capabilities and products which match Concentrics quality standards and that also have a strong management team in place. GKN Pumps meets all these criteria and will improve Concentrics ability to sell locally to our existing global customers. We plan to strengthen the local engineering capabilities in line with the groups global strategy to source, manufacture and provide applications support locally to our customers. I am also confident that, in the long-term, GKN Pumps will deliver margins in line with the rest of the group."

The Browne Jacobson team comprised corporate lawyers Roger Birchall and Tina Robinson.

Corporate Finance Partner Roger Birchall added:

"Concentric is an exciting business to work with and we are delighted to have been able to help the Concentric Management in implementing their strategy to increase Concentrics presence in the South American market to further enhance the offering to their global customer base."

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