North West-based commercial catering equipment maker CED Fabrications has merged with French private equity-backed manufacturer Tournus Equipement.
CED Fabrications was founded in 1991 and currently employs around 150 workers from its Accrington headquarters and manufacturing facilities in Liverpool and Sandwich. Its products include refrigerated food displays, patisserie cabinets and food servery counters.
Founded in 1910, management-controlled company Tournus Equipement, produces stainless steel professional equipment for the catering industry. Part of French group Tournus Expansion, the company designs and manufactures products from its premises in the Burgundy region and employs 270 staff.
The group is backed by private equity firms MML Capital Partners, UI Gestion and Bpifrance.
Speaking to Insider Media, Howard Rishton, managing director of CED Fabrications, said: “The merger between CED and Tournus provides an excellent opportunity to further the growth of the business both within the UK and internationally. The existing management teams are looking forward to working together to enhance the range of products available to our customers.”
The corporate finance team at accountancy and business advisory firm BDO in Manchester advised CED Fabrications. The BDO team was led by M&A partner Ruth Percival and M&A assistant director James Gregson.
Gregson explained: “The completion of the merger between CED and Tournus marks the fourth international deal in the last four months for the BDO northern M&A team; two of which being subsequent to the EU referendum result.
“With a number of other transactions in the pipeline, BDO is approaching the post-referendum environment positively. Market feedback from international buyers has remained upbeat and we believe that strong international appetite for successful UK mid-market companies is set to continue.”
A DLA team led by Yunus Maka provided legal advice to the vendors with Fidal, Mills & Reeve and Clairfield International acting for Tournus Expansion.