Prominent electrical switchgear manufacturer firm sold to Indian investor
Craig & Derricott is a leading manufacturer of high-quality switchgear products for low voltage control and safety applications. Operating from its site in Walsall, the company provides a range of products such as pushbuttons, rotary switches and footswitches, as well as made-to-order switchgear produced to specification. Switchgear equipment is used both to de-energise equipment to allow work to be done and to clear faults downstream.
Craig & Derricott’s specialist switchgear has an unrivalled reputation in key markets around the world and will support our own ambitious plans for expansion.
Mahindra Vaddineni, Managing Director
Orbis acted as lead adviser to the shareholders of Craig & Derricott.
Craig & Derricott had been working with the London Underground for a number of years previous to the sale process which was an attractive reference to Victory Group, the chosen buyer. Victory Group were looking to expand and had identified the development of the Indian underground system as an opportunity to utilise the product knowledge and sector experience of Craig & Derricott. The synergies between the businesses were quite clear from the beginning of the sale process.
- Researched and compiled a target list of potential strategic international buyers
- Approached international buyers on behalf of the shareholders of Craig & Derricott, final round buyers included organisations from India, France and Germany
- Prepared an in-depth working capital and net debt analysis to maximise net proceeds at completion
- Led the preparation and management of the financial due diligence process on behalf of the shareholders
- Negotiated on price and terms to ensure the best deal for our client