Ben Mitchell (ILF2022)
@AuManufacturing
Rapid welding technology manufacturer K-TIG has failed to meet its planned transaction date for the purchase of UK advanced manufacturer Graham Engineering Limited (GEL).
The company’s share purchase agreement (SPA) to acquire the business as an entrée to the UK nuclear decontamination field reached its sunset date of 31 August with a number of conditions for the scheme not yet satisfied.
According to the Adelaide manufacturer: “Challenging capital market conditions caused by underlying macro and geopolitical events have made the completion date of the transaction within the sunshine date extremely difficult.”