Active Electronics will be exhibiting at the Defence Systems and Equipment International (DSEI) Exhibition, at the ExCeL Centre, London, from the 10th to 13th September 2019.
Gloucestershire law firm BPE Solicitors acted for High-Wycombe based multi-national, Active Electronics plc, in its acquisition by South West-based businessman, Clive Scott for an undisclosed sum.
Active Electronics is a leading specialist supplier of components and electronic assemblies to the aerospace, defence and other high-reliability sectors. Established in 1984, the company has a wholly-owned subsidiary in New York, USA and a sales office in Sydney, Australia. The business reported sales figures for 2017 of £11.6 million.
The US-based subsidiary is registered to export defence and military related technologies from the United States.
BPE’s Corporate team said: “The intricacies in selling a business which requires the US authorities’ consent to transfer the US export license demands a complex audit procedure to ensure license conditions are met, on top of the usual considerations when selling, to enable the sale of the business to occur.”
BPE provided legal advice to the vendor, working alongside Rich Grover from Hazlewoods who provided corporate finance advice.
Hazlewoods Corporate Finance team are delighted to announce the sale of Active Electronics Plc, an electronic components distributor and sourcing specialist.
Active Electronics, which supplies components and assemblies to the aerospace and defence industries, was bought by Clive Scott, South West-based businessman, for an undisclosed sum.
Hazlewoods Corporate Finance team acted as sole and exclusive advisers on the sale, managing the transaction from inception to completion, finding the purchaser and coordinating the deal through due diligence.
Established in 1974, Active Electronics has become a leading service provider of electronic components, combat identification products and defence equipment to a wide-ranging blue chip customer base.
The business, with headquarters in High Wycombe, has a procurement subsidiary in New York, USA and a sales office in Sydney, Australia. In 2017, the business achieved sales of £12 million.
Mr Scott, said: “Active is a leading specialist in its field and is well known for its excellent quality and customer service, as evidenced by its SC21 Silver approval. I am looking forward to working with the experienced team as the company moves forward.”
Steve Roe, former Chairman and shareholder of Active Electronics, said: “Hazlewoods assisted me with the disposal of my family business and I would heartily recommend them. From the beginning of the process, right through to the end, they were extremely professional, diligent and responsive to any matters that arose.
“A particular mention must be given to Rich Grover, who assisted Paul Fussell with the transaction. He was always there to quickly resolve any issues or questions I had and was exemplary in the service he provided.
“I was very happy with the way in which the transaction was managed every step of the way and would have no hesitation in recommending Hazlewoods to other business owners looking to sell.”
Paul Fussell, Hazlewoods Corporate Finance Partner, said: “We are delighted to have advised Mr Roe, whose father founded the company some 44 years ago.
“We wish Mr Roe and his family every success for the future and are delighted the company has been acquired by Mr Scott, whose industry expertise will no doubt prove invaluable in driving business success for the future.”
Active Electronics are proud to announce that we have achieved SC21 Silver Award status for the fifth consecutive year. Supply Chains for the 21st Century (SC21) is an improvement programme designed to increase the performance of suppliers within the UK Aerospace, Defence and Space industries. Silver Award denotes performing at above 95.0% On Time Delivery and 99.5% Quality Compliance over a period of twelve months.
Active Electronics PLC will exhibit at DVD2018, held at the Milbrook Proving Ground in Bedfordshire on September 19th and 20th. DVD is one of the most important events in the Defence diary for those involved in the equipment and support for the UK’s Land Forces. We will have a range of advanced, innovative and versatile products on show, such as the Pegasus 7.1AA infrared coded ID beacon, the latest multi spectrum viewing systems, thermal and infrared markers, and Small Foot’s inflatable snowshoes. Come visit us at stand C3-509; we will be happy to demonstrate our portfolio and discuss how Active Electronics can help your organisation.