Slaughter and May is advising Essentra plc on the divestment of its Porous Technologies business

Slaughter and May is advising Essentra plc in connection with its divestment of its Porous Technologies business to Filtration Group, an affiliate of Madison Industries. The transaction values Porous Technologies at £220 million, free of cash and debt. Completion is subject to customary closing conditions, including a corporate reorganisation in certain jurisdictions, which are anticipated to be satisfied by Q1 2017.

Essentra plc is a leading global provider of essential components and solutions. Essentra focuses on the light manufacture and distribution of high volume, enabling components which serve customers in a wide variety of end-markets and geographies. Porous Technologies is a leading developer and manufacturer of custom fluid handling components, engineered from a portfolio of technologies that includes bonded and non-woven fibre, polyurethane foam and porous plastics.

Slaughter and May is leading an integrated team of law firms including Hengeler Mueller and Paul, Weiss, Rifkind, Wharton & Garrison LLP.