Slaughter and May is advising Essentra plc on the sale of its Filters business
Slaughter and May is advising Essentra plc (“Essentra”) on the sale of its Filters business to a wholly owned subsidiary of Centaury Management Limited, which is owned and controlled by the investment office of the Markus family, for an enterprise value of approximately £262.1m.
In 2021, Essentra announced the strategic review of its packaging and filters businesses, the goal of which was to become a pure play components business over time. The transaction marks the final step towards that goal.
The transaction is subject to various conditions including a shareholder vote for Essentra. Essentra expects that, subject to the satisfaction and/or waiver (where applicable) of the conditions, completion will occur before 31 January 2023.
Slaughter and May, led by corporate partners Jeff Twentyman and Sally Wokes, have been working closely with the Essentra legal team, led by Jon Green.