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Meridian advised the shareholders of Alfatronix Ltd on their sale to the incumbent management buy-out for an undisclosed consideration.
Peter Verralls founded the business in 1979, trading as V-Tronix Limited and specialising in the manufacture of VHF antennae, voltage converters, power supplies, loudspeakers and other communications products for the leisure marine market.
The business has evolved to become one of the leading manufacturers of voltage converters in the niche field of land based transport. With strong export sales the business will continue to profit from growth in the use of electronic devices in vehicles across Europe.
Over recent years, Managing Director Keith Reilly has implemented world class manufacturing techniques to ensure continuing quality and reliability.
The transaction was supported by Southampton local professionals including; Ian Burroughs of NatWest who provided funding; David Ashplant of Lester Aldridge who provided legal advice to the vendors and Ellis Jones who provided legal advice to the management team.
Commenting on the transaction Peter Verralls said, "I have considered many options for my exit from the business and the Meridian team have helped guide me through the process. I am delighted to see the business sold to a strong management team and I look forward to following their success in the future.”
Darren Thompson, Meridian director commented, "This deal helps Peter achieve a successful exit from the business he founded, but also presents the management team with the chance to take it to the next level."
