Trowers advises Ignite Growth on its acquisition of Newcastle Tool & Gauge Ltd
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International law firm Trowers & Hamlins has advised long standing client Ignite Growth on all acquisition, structuring and financing aspects in respect of Ignite's recent acquisition of a precision engineering business based in Gateshead as part of its buy and build growth strategy.
Ignite Growth (Ignite) are a UK-based investment firm focused on supporting the growth of ambitious, fast growing companies.
Founded in 1979, NTG is a precision engineering business based in Gateshead. It manufactures low volume, high value parts for use in Severe Duty Engineering Applications, where its products operate in high temperature, high pressure or high stress environments.
Trowers advised on the legal due diligence, corporate acquisition documentation and legal structuring matters relating to the acquisition.
Ignite will work closely with management to build the business both organically through ongoing investment in staff, culture and plant and machinery as well as through a “buy and build” strategy. The acquisition of NTG is the first step on building a substantial business in the precision engineering sector.
Alison Chivers, partner in the Trowers Corporate team commented:
"We are delighted to have worked with Ignite once again on another successful project. It is encouraging during this unprecedented time to see that there is still an appetite to support the growth and development of ambitious businesses."