Nottingham mining firm sold to Germans
Who?
Dosco Holdings, the Nottingham-based mining equipment specialist.
Did what?
Has been sold to Germany’s SMT Scharf for £1.8m.
What does this mean?
Dosco Holdings comprises two businesses: Dosco Overseas Engineering, which supplies mining machinery internationally; and Hollybank Engineering, which supplies underground support arches primarily to the UK mining industry.
Who advised?
Hammonds Birmingham team advised SMT Scharf on the deal, through a team led by corporate partner Christian Lowis, assisted by corporate associate Ryan Hawley, pensions associate Kate Lloyd, tax partner Jon Stevens, property partner Mitchell Ball and property solicitor Shazan Miah. Brewin Dolphin also advised.
Insider comment:
SMT Scharf is the technology and world market leader for rail systems used in mining. This deal could help to consolidate its position and open up new markets. The advisers also feel it will be beneficial for Dosco to be part of the German business.
Lowis commented: “We are delighted to have completed our first deal for SMT Scharf, a deal which will allow Dosco and Hollybank to flourish as part of a larger group with an established, market leading reputation in the mining and tunnelling industry.”
However, Billington Holdings doesn't expect to feel the loss. A spokesman confirmed to Insider: "Essentially Dosco was a non-core part of the business."
