Trowers advises on sale of LTE Scientific Limited
Top 40 law firm Trowers & Hamlins has advised the selling shareholders on the sale of LTE Scientific Limited, a manufacturer of laboratory equipment to SDI Group Plc for £4.2million, net of excess cash acquired.
LTE Scientific operates from a 44,000 square foot company-owned property in the village of Greenfield in the Saddleworth area of Greater Manchester are a leading UK manufacturer of autoclave sterilizers. The machines sterilize objects placed in a pressure vessel by injecting steam under pressure at temperatures ranging typically from 105˚C to 137˚C. The technology is used in laboratories and hospitals worldwide.
SDI Group plc designs and manufactures scientific and technology products for use by the life science, healthcare, astronomy, consumer manufacturing and art conservation markets.
The deal was led by Paul Ellaby with support from Max Ankers, Chris Doherty and members of the property, employment and pensions teams.
Corporate Partner, Paul Ellaby commented:
"It was a pleasure to have worked alongside the sellers on this deal and to have provided them with a satisfactory outcome that benefits all parties."