Transcend Corporate, the Birmingham and Thames Valley based corporate finance adviser, is pleased to announce the sale of Graham Engineering Ltd (GEL) to a2e Industries Ltd (a2e). The industrial products team at Transcend Corporate, led by Chris Bill acted as lead advisers to the shareholders of Graham Engineering Ltd.
GEL has strong foundations in nuclear product development, with long term production agreements for major clients in the sector. They have applied their capability to grow into other highly regulated markets requiring high integrity stainless steel (or other exotic metal) fabrications. GEL now provides advanced manufacturing solutions to clients across a broad-spectrum of industries including, nuclear, aerospace, security and medical industries.
Led by its founder and owner Amin Amiri, a2e is an industrialist value investor, focusing on long term wealth creation, with an strong record of investment return on realisation events. a2e seek to invest in mid-market industrial and manufacturing businesses, including those poised for substantial growth. All of GEL’s key customers have welcomed a2e’s acquisition of the business, recognising the benefits that a2e will bring to the strategy, leadership and operational capability of GEL. Direct discussions with GEL’s major customer have been ongoing for some time to ensure there was strong overlap in their strategic vision for GEL. These discussions have been very positive and supportive.
a2e owner and CEO Amin Amiri stated: “We are delighted to have secured the acquisition of GEL and look forward to providing our leadership and industrial knowledge to compliment the advanced manufacturing techniques already offered by GEL to the nuclear industry and other demanding sectors. We are delighted that Adrian Smith will join the company as Managing Director, providing a wealth of capability and knowledge from his extensive time in related industries.”
Graham Engineering Chairman, Tony Eckford added: “The completion of this acquisition by a2e will provide long-term certainty, and affords GEL the opportunity to further strengthen and grow the capability and capacity of the company across a range of sectors.”
Transcend Corporate partner, Chris Bill, commented: “We are delighted to have been able to help the shareholders of GEL. The business is a strategic asset in the nuclear industry and interest in acquiring it was extremely high. In managing the sale process, we were able to identify a2e as an ideal future home for GEL. The discussions around future plans have been exciting to hear. As someone who is personally involved in the global nuclear industry, it is very pleasing for me to help an important business such as GEL find a new strategic home which will allow it to better fulfil its future potential. We have also been able to introduce a new highly respected and relevantly experienced CEO to a2e to enable them to start the development journey from day 1.
a2e Director of Investments Will Rawkins commented: “Chris and the Transcend team conducted a well-run process. Whilst looking after their client throughout, they played a key facilitation role with a2e and our advisors. Communications were clear and timely, and they helped all parties resolve matters in a no fuss manner. This transaction has proved very challenging at times, and I have been able to work closely with Chris to find sensible solutions each time.”
Tony Eckford, GEL Chairman, said: “We’ve been really pleased with the support and advice provided by Chris and the team at Transcend. They’ve managed the process well with their Partner led approach. Their experience working with owner managed businesses like GEL was evident throughout, while their responsiveness, attention to detail and sound strategic guidance have been crucial to the successful outcome. In addition, Chris’s nuclear industry credentials ensured we were able to identify the right buyer and to work through the sale process smoothly. I would have no hesitation in recommending them to others considering a sale of their business”.
Legal advice to the shareholders was provided by Adam McKenna and Duncan Sykes of Foot Anstey LLP.