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 1974, 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.