Japanese listed business HORIBA Limited, a leading supplier of measurement systems to the automotive industry, has acquired MIRA Group for £83.1 million. The transaction sees the formation of the new company, HORIBA MIRA Limited.
Established in 1946, Nuneaton-based MIRA provides testing, design and development research services to the automotive, railway and aerospace sectors.
The acquisition will enable HORIBA to expand its vehicle development and testing business, and contribute to the development of next generation mobility, such as autonomous vehicles, electric vehicles, and ultra-low fuel consumption vehicles.
Our advisory team provided a range of services to HORIBA throughout the cross-border transaction, which included deal support, tax structuring, financial and tax due diligence, pension advice and valuation input. Our work supported HORIBA in negotiating an improved deal and importantly was delivered within the time constraints set by various key stakeholders.
We are assisting HORIBA on post deal matters identified during the diligence process and are well placed to secure the audit and tax compliance work, going forward.
The services provided by Grant Thornton, which covered diverse fields, was really valuable given the complexities in this deal. Proactive advice on different areas, such as financial due diligence, tax, was indispensable to complete the deal within the fixed time limit.
Junichi Tajika Deputy General Manager, Finance & Control Division, HORIBA Limited
