Blake Morgan advise on sale of leading security systems integrator
Blake Morgan’s Corporate team and Azets Corporate Finance advised on the sale of Esotec Limited to ADT Fire & Security Group Plc for an undisclosed amount.
Esotec is a systems integrator of full-lifecycle security solutions. The former shareholders, Andy Durham and Dave Oliver, will both continue to manage the business on an ongoing basis with the support of their existing dedicated and experienced engineering and delivery team. ADT Fire & Security is a subsidiary of Johnson Controls International Plc, a US company listed on the New York Stock Exchange with annual sales of in excess of $22 billion.
James Hawkeswood, Partner at Blake Morgan, commented:
Having helped Andy all the way from the very start of Esotec to this successful exit has been a privilege. I know how hard Andy, Dave and their team work to maintain their excellent reputation and relationship with customers, so it is great to see that effort rewarded in this way. I wish them and ADT every success in the next stage of Esotec's evolution.
Rob Holmes, Partner at Azets Corporate Finance said: “The M&A market remains buoyant and this transaction underlines that there continues to be an appetite for high quality assets, particularly those operating in defensible markets with recurring or contracted revenues. We are delighted to have assisted the shareholders with this sale and are sure that the business will go from strength to strength.”
Speaking of their advisers, Andy Durham, Managing Director of Esotec said: “We couldn’t have picked a better team to get this transaction over the line. The deal was subject to some complex negotiations which were managed by Rob from ACF and James from BM. They have in-depth knowledge of the business which played a major part in getting the right deal shape agreed at completion, whilst also securing the future business structure for both us and the Johnson Controls team. I am delighted with the result for all parties involved and would highly recommend this team to others when undertaking a similar transaction.”
Working on the deal for Blake Morgan were James Hawkeswood, Partner, Kate Eyres, Solicitor and Katie Newham, Trainee Solicitor.
For further details, please contact James Hawkeswood.
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