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published NOVEMBER 23, 2009

DLA Piper advises on major Indian investment into the North of England

The Sheffield corporate team of DLA Piper UK LLP have played an integral role in securing a major Indian inward investment into the North of England. Led by partner Richard May, the Sheffield team advised Indian-owned TVS Logistics Services on their acquisition of Multipart - a spare parts supplier to some of the biggest names in transport - for an undisclosed sum. The deal is the first full acquisition made in the UK by TVS. TVS Logistics is part of the $5 billion TVS Group, which is one of the largest manufacturers of car components in India. The logistics arm, which supplies parts to markets across the Europe, the US and Asia has a sales office based in Sheffield. The acquisition of Multipart, which is based in Chorley and already supplies to the Ministry of Defence and Isuzu, will allow the group to grow its UK and European business base. Richard May comments: "India is seen as a key investment partner for the UK economy, so it is excellent to see such a significant investment in the North of England, being advised by a Sheffield based law firm. It is important as we move forward and out of recession that the North of England is recognised by global businesses for its investment potential and professional expertise. "TVS carried out an exhaustive due diligence on the business, so they needed quality advisers to help them through that process. "TVS and Multipart both see this deal as beneficial to growing the business and will retain the existing expert workforce and management structure, so both sides are happy with the outcome of this deal and the prospects for the business moving forward."