Wallace advises Oldham Engineering on sale to ADSAM

Wallace has advised the Dunigan family, shareholders of Oldham Engineering on its sale to The Australian Sovereign Defence and Advanced Manufacturing Group (ADSAM). ASDAM is a portfolio company of private equity investor CPE Capital.

Oldham Engineering is a precision engineering business originally founded in 1861. Oldham was acquired by the Dunigan family in 1993 growing to become a trusted supplier to the nuclear, rail, oil and gas and defence sectors.

ASDAM is a fast growing sovereign defence and advanced manufacturing group. The Oldham deal represents ASDAM’s first venture outside of the Australian market.

Wallace advised on the sale of the industry leader with a team led by John Woodhouse supported by Ilya Alexandrov, Charlotte Lang and Stephanie Claridge in the corporate team. James Williams led on all employment aspects of the deal with support from Scarlet Hart-Ives and Alexandra Nicholls; Alexander Egerton provided input on intellectual property matters while Jocelyn Harris-Cooke advised on the extensive real estate issues relating to Oldham’s two manufacturing sites.

The deal provides Oldham Engineering with a platform to continue its growth as one of the United Kingdom’s leading defence manufacturers.

Andrew Dunigan, former Managing Director and major shareholder at Oldham Engineering, commented: “Thank you to all of the team at Wallace, you have all been great to work with. Your support and professionalism have been excellent.”

John Woodhouse, Joint Managing Partner at Wallace, commented: “It’s been a pleasure to help Andrew and the Dunigan family to secure the sale of Oldham Engineering. The family can be rightfully proud of building such a high quality engineering business renowned for its technical excellence and deep personal relationships in the sector. These are the clients that the Wallace team thrives on supporting.”