ORBIS ASSISTS TT ELECTRONICS WITH ROXSPUR ACQUISITION

BUSINESS OVERVIEW

Orbis assisted TT Electronics in the acquisition of Roxspur Measurement and Control Ltd (RM&C). Initial consideration of £7.5m was paid in cash with a further amount of up to £2.5m payable based upon performance in the period to 31 December 2015.

TT Electronics is a £500 million turnover group quoted on the London stock exchange. They supply electronics to the world’s leading manufacturers in the transportation, industrial aerospace defence and medical markets.

Roxspur — based in Sheffield — is a supplier of temperature, flow, pressure and level sensors to the oil and gas, power generation, water management and materials processing sectors.

The acquisition of Roxspur, which will form part of the Sensing and Control division, accelerates TT’s strategy to develop its position in attractive industrial markets. This includes process control and will complement the Group’s existing technologies and products, providing a platform for future growth.

RM&C is an important addition to the Sensing & Control Division and the products and customers are a complementary fit. With an impressive portfolio of measurement and control products for demanding industrial applications and a strong customer base with blue-chip clients, there are opportunities to expand sales of RM&C products globally through sensing and control channels and expand into other industries and applications.

We engaged Orbis to assist us with the research and origination of targets in the UK and abroad. They understood our acquisition criteria and identified a number of targets. Orbis conducted the process in a discrete, confidential manner and we are pleased with the successful acquisition. We continue to work with Orbis on additional projects moving forward.

Tim Roberts, Director

OUR ROLE

Orbis identified a number of acquisition targets for TT Electronics both in the UK and abroad utilising their partners Clairfield International.

Throughout the process, Orbis remained professional yet discreet, which was highly valued by the client.

As a result, Orbis were able to support TT Electronics in their acquisition of RM&C, which is a perfect fit for their business and will help the company to meet their long-term goals.

Specifically, Orbis:

Utilised their international partnerships with Clairfield international to source potential acquisition targets in the UK as well as overseas
Worked closely with the internal M&A team within TT Electronics to identify the best strategic target for the growth and future of the business
Professionally initiated the approach and provided advice and support as the transaction progressed
Ensured that the full process was executed successfully.