Bishopsgate advised bulk materials handling provider, Guttridge, on the sale to China based Mitchells Group.
Based in Spalding, Lincolnshire, Guttridge employs 100 people and supplies bulk handling equipment and solutions to a wide range of European and global companies.
Privately owned Mitchells is one of the world’s largest bulk material handling manufacturers, supplying specialist conveying solutions and handling equipment to agri-food companies worldwide.
The deal will see the combined revenue of both companies surpass $30 million.
The acquisition vastly increases Mitchells scope and engineering capacity which already sees the Group service customers in six of the world’s seven continents, with equipment installed in 46 countries.
The deal will expand the breadth of Mitchells Group’s service offering, allowing it to supply small capacity systems to local farmland through to large commercial port terminals.
Established in 1962 and employing 100 people, Guttridge will retain its name and continue to trade as part of the Mitchells Group.