Nash & Co and Thomas Westcott help Motortronics’ Acquisition of Plymouth-Based Fairford ElectronicsJul 20, 2018
Motortronics, a worldwide leading manufacturing group specialising in solid state AC motor controls and motor protection products, has acquired Plymouth-based Fairford Electronics Ltd for an undisclosed sum.
Two South West professional services firms, Thomas Westcott Chartered Accountants and Nash & Co Solicitors, both acted on behalf of Motortronics to ensure the deal went through smoothly.
Fairford Electronics, which has its design and production facilities in the Lee Mill Industrial Estate, Ivybridge, provides low voltage soft starter motors which complement Motortronics’ own range of medium voltage solid state motors.
Acting for Motortronics, the Corporate Finance Team at Thomas Westcott carried out the financial due diligence on Fairford Electronics before the acquisition could be completed.
Alison Watts, who heads that Corporate Finance Team, said: “Fairford, which has been trading since the late ‘70s, has an outstanding reputation both here in the UK and worldwide and are an excellent fit for Motortronics, itself a global leader in the sector.”
She added: “This announcement not only demonstrates that international companies are keen to do business with their UK counterparts, but also that here in the South West we have the professional skills and expertise to facilitate such deals and get them over the finishing line to the satisfaction of all parties.”
Nash and Co acted for the Motortronics group on the transaction, dealing with the legal due diligence and acquisition documents.
Tim Jackman, head of the Nash Corporate Finance team said ‘This was a great deal in which to be involved. It is great to see such a professional and experienced international group investing in this highly respected South West business. I was lucky to be involved over 10 years ago when the business was sold, so it is fantastic to be involved again in the next chapter for Fairford’.
Motortronics believes the deal will support the company’s growth plans and help accelerate its entry into new markets.
“Fairford provides an exciting opportunity for Motortronics and, specifically, strengthens our position in International Electrotechnical Commission (IEC) class products,” said Jim Mitchell, President of Motortronics US.
“Now with operations in USA, United Kingdom, Korea and China, Motortronics and Fairford are perfectly placed to offer outstanding support to all markets globally,” added Brian Hong, Managing Director, Motortronics Korea.
Mark Shepherd, Fairford Managing Director, said: “Motortronics’ strength in medium voltage and soft starters, combined with our own expertise in low voltage IEC soft starters, provides a major growth opportunity for both businesses and extends the product range for all our customers.”
The senior management team at Fairford Electronics will remain unchanged and the company will now trade as: “FAIRFORD – a part of the Motortronics Group.”