Berry Smith recently acted in the sale of Cardiff-headquartered Inimex Genetics, a supplier of stud bull semen, to National Milk Records (NMR).
NMR, which manages information on the milk quality, yield and fertility of cows across the UK, purchased the share capital of the business.
Inimex is a £1.4m-turnover company and was formed more than 25 years ago. It has secured contracts to exclusively supply stud bull semen from across the globe to the UK market.
It launched its website, bullsemen.com, in 2007 to market its products directly to dairy farmers nationwide. It also the only UK source for US and German stud giants Cooperative Resources International and German Genetics International. Chippenham-based NMR will pay more than £1.6m in cash on completion of the deal, with a further sum over four years based on Inimex meeting future profit targets.
Berry Smith’s Head of Transaction & Business Services Andrew Bound said “We are delighted to have worked closely with owners of Inimex and their accountants Broomfield Alexander to structure, negotiate and complete the sale of their very successful company to a well renowned UK public company. The transaction will enable Inimex to continue its impressive growth and to exploit a number of synergies with the other activities and businesses of NMR.”