TLT has acted for global leader in high performance door sealing systems, Lorient Group, on its sale to global intelligent lock and security solutions provider, ASSA ABLOY.
TLT worked with UK-based and overseas teams including US counsel to prepare the business for acquisition. We led a strategic review of the group and worked closely with the shareholders and financial advisers throughout the process. The team managed and advised on the M&A process and how to best deliver on the group's objectives for the sale, to ensure a smooth and positive outcome.
Lorient, founded almost 40 years ago, with its headquarters in Devon has operations in the UK, North America, Dubai, Hong Kong, Australia and Singapore.
ASSA ABLOY is the largest global supplier of intelligent lock and security solutions. One in every ten lock and security installations worldwide uses their products.
The TLT corporate team was led by partner Andrew Webber and associate Nina Searle along with solicitor Luke Thorngate-Davies.
Maria Powell, managing director at Lorient Group, says: “ASSA ABLOY has a wealth of technology, resource and capability that will support the continued development of our businesses and support our customers. TLT has extensive experience of working across multiple jurisdictions on strategic transactions, and really understood the synergies between our two businesses. They understood what it would take – from a strategic and procedural point of view – to meet everyone's expectations and achieve a quick and smooth transaction."
Andrew Webber, partner at TLT, says: "We’re delighted to have worked with the shareholders on this transaction and to see Lorient Group become part of ASSA ABLOY. Having spent time getting to know Lorient from our pre-transaction work, its acquisition will ensure it can continue to develop and deliver leading products and services worldwide."
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