About the client
Seaward is a leading supplier of electrical safety and performance test instrumentation to customers across the globe. The Group operates through 6 brands and is a technology pioneer with a track record of introducing commercially successful new, exciting technologies. The business is headquartered in Peterlee, County Durham and has further office locations in the USA and Malaysia. All manufacturing takes place in the UK.
About the deal
Rickitt Mitchell was engaged in September 2014 to find a buyer for Seaward Group, to enable the retirement of its owner, Rod Taylor. We prepared a comprehensive briefing note on the business and in discussion with the client we compiled a list of potential trade acquirers. We then contacted potential counterparties, advised Seaward on the terms of the offers received, and helped them to select a preferred bidder, Nuremburg-headquartered Metrawatt International GmbH. Rickitt Mitchell's experienced team then provided continued negotiation and deal management support to achieve a successful conclusion to the transaction. The directors of both businesses believe that there is a very good synergy between the two companies in terms of product ranges, geographical spread and markets served. Under the terms of the deal the Seaward Group name and its brands will remain intact and manufacturing will continue at the company's operation in County Durham.
"I would like to express my gratitude to you for all the work and help you have provided over the last few months. I appreciate there have been a number of challenges however your perseverance and professionalism have produced an excellent outcome."Rod Taylor | Founder | Seaward