Old Mill advise on sale of Golledge Electronics to Techpoint
Somerset based Golledge Electronics sells to Techpoint backed by Literacy Capital. Golledge has been advised by Old Mill.
Golledge is one of the market leaders in the global supply of frequency control products. Golledge has benefitted from significant growth in recent years, with their wide range of frequency control products approved in some of the world’s largest manufacturing businesses.
Dan Croft, Executive Chairman of Techpoint, said: “the addition of Golledge represents an excellent strategic fit to our existing businesses, aligning seamlessly with the groups ‘centre of excellence’ strategy.”
Golledge will continue to be based in their Somerset logistics centre, delivering exceptional design-in and technical support to some 700+ global customers.
Mark Neath and Scott Hill at Old Mills Corporate Finance Team said: “It has been a pleasure advising Golledge on this transaction and working collaboratively with all parties involved. It’s been great to not only secure Jon the sale but the exciting future opportunities that come with remaining involved in Techpoint. We ensured we harnessed a strong buyer/seller relationship even in the most challenging stages of deal negotiation which was essential given the working relationship that will be held post deal. Our style is to work collaboratively, not adversarially, to get a great deal for our client yet a deal that works for everyone.”
Alongside corporate finance, the shareholders were supported in structuring the deal in a tax efficient way, as well as on tax aspects in the Sale and Purchase Agreement, by Stephen Martin and Jo Lawless.
Jon Golledge founder of Golledge Electronics said: “The support from Old Mill has been brilliant, they provided exemplary guidance and gave me great confidence that I have a deal that is fair and that everything has been done correctly giving fantastic peace of mind.”