A WELL-known name in Dorset manufacturing has been sold to a Swiss company.

Family-owned Parvalux Electric Motors, a leading maker of electric motors and gearboxes, was bought by Maxon Motor.

The Wallisdown-based company has more than 70 years’ experience and supplies businesses across the world in the healthcare, leisure, mobility and industrial sectors. It is part of the Clark Group, based in Bournemouth and Birmingham.

Bournemouth commercial solicitors Steele Raymond advised the shareholders on the sale.

Maxon Motor manufactures in Switzerland, Germany, Hungary and Korea, with subsidiaries in other countries.

Parvalux managing director Nick Spetch said: “We’re delighted with the sale to Maxon Motor, who have an established pedigree and portfolio in geared motor manufacture worldwide. This market-leading mindset will help take the business to the next level.

“The success of Parvalux has been built over an exciting period of growth for the business, particularly over the last 10 years, and we are all very proud of our long established heritage in the area. Our commitment to delivering outstanding service to all our customers coupled with the new owners’ investment will help Parvalux grow into more countries and reach new markets.”

Parvalux was established in 1947 in Romford, Essex, and moved to Bournemouth in 1957, making AC and DC electric motors and gearboxes for markets across the globe.

In 2008, it acquired Essex-based EMD Drive Systems and relocated that company to Bournemouth, nearly doubling turnover.

Steele Raymond partner Nick Davies, who led the transaction, said: “We have worked with Parvalux for over 10 years and over that time it has been pleasing to see the growth of the business nationally and internationally.

“Its success is down to a very clear strategy for growth delivered by a proactive and expert management team. Acquisitions by overseas buyers inevitably increases the complexity of the transaction but the experienced mergers and acquisitions team at Steele Raymond regularly deal with complex international M&A work so it ensures the deal progresses as smoothly as possible.”

Steven Clark, chief executive of the Clark Group, said: “We have had a close working relationship with Steele Raymond for over 10 years. Their understanding of our business helped the whole legal process significantly. Their team of commercial solicitors has the experience to advise on, and bring to completion, these sorts of overseas transactions whilst ensuring the process progresses professionally and as efficiently as possible.”