Motor giant management buy-out overseen by Harvey Ingram

Release date: 3/3/2010

Midlands' law firm Harvey Ingram has overseen the management buy-out of Standard Motor Products Europe Ltd - SMPEU - from US parent SMP Inc, one of the world's largest suppliers of car and truck components.

All staff jobs were safeguarded in the deal, which is the latest step in SMPEU's on-going expansion following a move into a new purpose-built headquarters at Sherwood Park in Annesley, near Nottingham. From here the company is set to further expand its services to customers across Europe, the Middle East and Australasia.

SMPEU group finance director Suky Chahal says: "We are delighted with the way the management buy-out was completed. It's a very timely move and creates a superb opportunity for us to press ahead with our on-going expansion plans. The company is an extremely good position to increase the range of products and services we offer the automotive industry."

The deal was overseen by a team of Harvey Ingram corporate specialists, led by partner Roy Botterill.

He says: "We are delighted to be able to help SMPEU with its continued expansion plans. The company is in great shape, with a very ambitious and forward-thinking management team. We're looking forward to watching the business going from strength-to-strength."