Case Study: Powertecnique International Limited
- Deal size:
- Management buy-out
- Mechanical and Engineering
- Deal completed:
- September 2009
Meridian Corporate Finance LLP (“Meridian”) advised the shareholders on the management buy-out (“MBO”) of Powertecnique Limited, Powertecnique International Limited and Powertecnique Service Limited (together “Powertecnique”) for an undisclosed consideration.
Established in 1991, Hampshire based Powertecnique are specialist builders and installers of UPS and generator systems for critical power applications and harsh environments. Specialising in the design of low and high voltage backup power systems rated from 5kVA to 10MVA, Powertecnique supply a comprehensive range of power products based around uninterruptible power supplies, diesel generator sets, DC systems, inverters and associated switchgear.
Meridian structured, negotiated and managed the deal process and designed a structure that allowed the incumbent Operations Director to buy out two exiting Directors.
Darren Pearce, Managing Director of Powertecnique commented “We have been in business for 18 years and have never been exposed to corporate finance previously. It was vital for us to engage the right advisor/partner and Meridian instantly gave us the comfort to entrust them with our most valuable asset, ‘Powertecnique’.
By anticipating every stage of the process they ensured that we were able to make informed decisions at each milestone. Their dedication and commitment, ranged from data entry to strategic consultancy, however, no matter what the requirement, it was delivered round the clock. The relationship with Meridian has been such a success that we will be looking for an ongoing advisory relationship post completion”.
Michael Barcia, Partner of Meridian who lead the transaction adds “The deal was excellent for all concerned. The exiting Directors now have the opportunity to pursue new lifestyle choices, whilst Darren now has the platform to take the business in a new strategic direction. The UPS market is one that is forecast to grow strongly and Powertecnique are now ideally placed to exploit the opportunities that are presented“.