Lewis Silkin advises Descours & Cabaud on its 50% acquisition of Hayley Group Ltd
07 October 2016
Lewis Silkin French Desk has advised French Group Descours & Cabaud, the leading distributor of MRO and PPE products in Europe, on its 50% acquisition of leading UK distributor of MRO products, Hayley Group Ltd.
Hayley Group is one of the leading MRO distributors in the UK and offers a comprehensive range of MRO products for industrial maintenance (bearings, power transmission, sealing products, tools, personal protective equipment, and fluid power) combined with value-added services such as assembly and repair facilities. With 40 branches covering the whole country from Poole to Inverness, Hayley generated in 2016 a turnover of £114 million (€135 million) with circa 600 employees.
Descours & Cabaud is the leading distributor of industrial supplies in France and one of the major players in Europe. With its brands Dexis and Prolians, the family owned group, created before the French Revolution, generates a turnover of €3 billion, with over 600 branches. This transaction is Descours & Cabaud’s first acquisition in the UK and sees them become one of the few companies in the MRO market capable of offering a global European solution to their customers.
The transaction marks yet another successful completion by Lewis Silkin’s dedicated French Desk this year. The cross-departmental Lewis Silkin French Desk team was led by corporate partner, and head of the firm’s French Desk, Marie-Caroline Frochot supported by corporate tax partner Matthew Rowbotham, employment associate Richard Moore and real estate associates Emily Meredith-Hardy, Tom Merrick and Sarah Mogford.
“We are delighted to have supported Descours & Cabaud on this key strategic acquisition as the company continues its international expansion. The deal highlights, once again, the French Desk’s strengths and unique expertise of the M&A sector for French groups”.
Jos Vandael, International Director of Descours & Cabaud said:
“My colleague, Bernard Van Der Elst Group General Counsel of Descours & Cabaud and I were very pleased to have worked with Marie-Caroline and the Lewis Silkin team. The firm’s dedicated French Desk provided vital insights into doing business in the UK and were extremely responsive and commercial throughout the transaction”.