Sussex-headquartered Michelmersh Brick Holdings PLC Group, the specialist brick manufacturer, has acquired Floren, an established, profitable clay brick manufacturing business which has operated out of Antwerp, Belgium since 1896.
Corporate partner Dominic Davis and senior associate Peter Dunn led the Burges Salmon team advising Michelmersh on the €9.9 million acquisition, working closely alongside Belgian law firm Lydian.
This strategic acquisition will enhance Michelmersh’s product portfolio, significantly increase its overall output and provide a foothold in new European markets.
Burges Salmon also advised Michelmersh on a share placing raising £5 million.
Dominic says: “We are thrilled to have been able to help our long-standing client Michelmersh build on its success with this latest acquisition and fundraising and we have thoroughly enjoyed working with the Michelmersh team once again. This cross-border acquisition is a key step forward for the company, enhancing its portfolio and providing access to the European market.”
Steve Morgan, Michelmersh’s Finance Director, says: “As our first international acquisition, this was a very important strategic step for us, and one that adds significant value to the Group. It was great working with Dom and Pete and the team at Burges Salmon again who, along with Lydian, provided excellent legal advice and support throughout.”