Members of Price Bailey’s Cambridge and Bishop’s Stortford Strategic Corporate Finance team recently played a lead advisory role in the acquisition by Essex-based Fire Suppression Solutions of Firetec Reacton Ltd.
Fire Suppression, a leading fire protection company that produces and distributes automatic fire detection and suppression systems, acquired the entire share capital of Firetec, a specialist burst tube manufacturer based in Scotland for an undisclosed sum.
The team worked with the owners of Fire Suppression in a full lead advisory role which included negotiating the initial offer, followed by drafting and agreeing Heads of Terms, assisting the purchaser through further financial legal due diligence enquiries and project managing the sale process to a successful completion.
Following completion, Firetec operations were relocated to Essex with new directors Sam Malins and Ed Barnes focused on a rapid growth strategy.
“The expert team at Price Bailey guided us through every step of the acquisition with absolute professionalism,” said Sam Malins. “Their attention to detail and patience ensured we were kept fully aware of what needed to be done and ensured a successful conclusion.”
Rob Smith, Director at Price Bailey Strategic Corporate Finance, said: “The deal for Fire Suppression enables Sam and Ed to control their supply chain and build a platform in the UK before taking the “Made in Britain” products much further afield.”