Yorkshire-based corporate finance team plays major role in corporate deal

By The Newsroom
Published 15th May 2017, 15:54 BST
Updated 15th May 2017, 17:28 BST
Poonam Kaur of fds Director ServicesPoonam Kaur of fds Director Services
Poonam Kaur of fds Director Services
A Yorkshire-based corporate finance team has provided advice in connection with a major global acquisition.

US-based Snap-on Incorporated has acquired Norbar Torque Tools Holdings Limited, along with its US and Chinese joint ventures, for around $72m.

Based in Banbury, Norbar is a manufacturer of a full range of torque products, including wrenches, multipliers and calibrators and has a strong presence in the power generation, oil and gas, mining and railway sectors.

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fds Director Services, which is based in Wakefield, advised Norbar’s management in connection with the deal.

Norbar, which employs around 300 staff, was incorporated by William Brodey in 1943.

Four third generation family members continue to operate the business.

Leading the deal for fds was managing director Poonam Kaur, supported by chief executive Jo Haigh, who worked alongside law firm Penningtons Manches to deliver the sale.