Background
• DMT specialises in producing key components used in orthopaedic implants such as knee and hip joints. It also produces fully machined and finished instruments used in surgical procedures
• DMT’s products are produced in high-alloy stainless materials, titanium and cobalt-based alloys and are supplied to many of the world’s major manufacturers of orthopaedic medical implants
• Sales for the year to December 2006 were £34m
• Sandvik is a world-leading manufacturer of high value-added products in advanced stainless materials, special alloys, metallic and ceramic resistance materials
Process & outcome
• Close Brothers was Corporate Finance was retained in February 2007 to advise Doncasters on its discussions with Sandvik
• Through early negotiation of key terms and ensuring the momentum was maintained at each stage of the sales process, Close Brothers Corporate Finance was able to ensure a successful outcome for Doncasters
• The transaction is pending regulatory approval
Testimonial
Commenting on Close Brothers Corporate Finance's role, Eric Lewis, CEO of Doncasters, said:
“We are delighted with the outcome of the sale of DMT. Close Brothers Corporate Finance worked closely alongside Doncasters from an early stage and proved instrumental in ensuring shareholder value was maximised."
Andrew Cunningham, a Managing Director at Close Brothers Corporate Finance, commented:
“Doncasters is an important new client for Close Brothers Corporate Finance and we are very pleased to have assisted in achieving an excellent result. The sale of DMT to Sandvik will allow Doncasters to focus on its core business, following its recent acquisition of FastenTech.”
To find out more about how Close Brothers Corporate Finance can help your business, please contact Andrew Cunningham, Dafydd Evans or Michelle Le Merre on +44 (20) 7655 3100.