International law firm Wragge Lawrence Graham & Co (WLG) has advised Sweden-based AxIndustries AB on its acquisition of the entire issued share capital of Acorn Services Group Limited (Acorn) from a group of individual shareholders.
AxIndustries AB, part of the 90-strong Axel Johnson International group, is a leading full service European supplier of bearings and transmissions. Its move to acquire Acorn, one of the UK’s principal distributors of bearings, linear systems, power transmission and related services, strengthens its customer offering and increases its geographical coverage, making AxIndustries a more interesting partner for both customers and suppliers.
Julian Henwood, corporate partner and head of WLG’s Nordic Desk, led the cross-firm team
The deal is the latest in a long line of transactions completed by WLG’s Nordic Desk for Nordic headquartered clients. Other Swedish manufacturing companies for whom Julian has executed cross-border transactions in recent years include Anoto, Assa Abloy, Haldex, PartnerTech and Swedish Match.