Menzies and Cripps support KAMIC Group on cross-border acquisition of Elsteel Group

Menzies and Cripps have advised Swedish-based KAMIC Group on the successful acquisition of Elsteel Group, a global manufacturer of modular and customised steel enclosures for low-voltage switchgear.

With operations across Denmark, Sri Lanka, India and Poland and annual revenues exceeding €30 million, Elsteel will join KAMIC Group’s Installation business area as an independent company. The cross-border deal involved complex multi-jurisdictional financial, tax and legal due diligence, as well as a voluntary notification under the UK National Security and Investment Act.

Menzies provided buy-side financial and tax due diligence. The firm’s Deal Advisory team, led by Ross Wiggins with support from Katherine Bailey, worked closely with KAMIC throughout the process. Tax Partner Andrew England led on international tax, coordinating with firms across the HLB network to deliver cross-border advice and manage local input.

Cripps’ corporate team advised on and negotiated the key transaction documents and project managed the cross-border diligence exercise and completion process, working closely with local counsel and with Menzies on the financial and tax aspects of this complex deal. The Cripps team advising on the transaction included Rebecca Glazebrook and Beth Barns-Graham.

This latest transaction builds on both firms’ longstanding relationships with KAMIC Group, further cementing their expertise in international M&A within the manufacturing sector.

Per Lindblad, Head of M&A at KAMIC Group, commented:
“It has been a true pleasure working with the teams at Cripps and Menzies again. Their expertise and seamless project management across multiple jurisdictions was invaluable in getting this deal over the line. Their pragmatic and solutions-focused approach meant we could navigate the complexities of this transaction with confidence. We look forward to working together on future opportunities.”

Ross Wiggins, Deal Advisory Partner at Menzies, said:
“It was a pleasure to support KAMIC Group alongside Cripps on this acquisition, with Elsteel Group’s international footprint and technical capabilities representing such a strong fit for KAMIC’s long-term growth strategy. We look forward to seeing the continued success of the business as part of KAMIC Group.”

Rebecca Glazebrook, Partner at Cripps, said:
“We are delighted to have supported KAMIC Group on another strategic acquisition. The cross-border nature of this deal required close collaboration across multiple workstreams, and it was fantastic to work again with the team at KAMIC. We are proud to have played a part in their continued expansion and look forward to continuing to work with them on future transactions.”