Based in France, CGR is an engineering business, with operations in Europe, America and Asia, specialising in co-engineering and serial production of metal and plastic components, based on cold forming technology. CGR had group turnover of Euro 196m in 2022 and works in the supply automotive, aviation and electronics industries.
John Binns & Sons (Prings) Limited has been operating for 125 years, from a base in Skipton, and recently invested in new technology, supporting lean tech for its complex spring production to a broad customer base. John Binns will continue with its present management team under CGR ownership.
Jean-Marie Lavirotte, Business Development Manager at CGR, said:
“JB Springs is a fantastic opportunity for CGR to establish a first base in the UK. DMH Stallard played a key role helping us to close the deal.”
Jonathan Grant, Partner and Head of Corporate at DMH Stallard, said:
“CGR is a great client to work with and we enjoyed helping deliver this deal for them. In challenging times for many businesses, it is good to see a French business broadening its international network into England.”
The buyer was advised by DMH Stallard (legal), and Russ Cahill (tax). The sellers were advised by Squire Patton Boggs (Legal), and Mazars (Corporate Finance). Financing was provided by BNP Paribas and Credit Agricole.
