South Yorkshire based Accounting & Business Advisory, SMH advised the shareholders of a manufacturer of electrochemical materials on its sale to an AIM-listed company.
Technical Fibre Products, a subsidiary of AIM-listed James Cropper, has completed the acquisition of PV3 Technologies.
Operating from a manufacturing facility in Cornwall, PV3 Technologies specialises in the production and development of technical electrochemical materials.
The business has developed a range of technical catalysts, battery material and electrodes products supplied to sectors including energy and utilities, medical and automotive.
Technical Fibre Products employs materials scientists, engineers and support staff responsible for developing new materials to meet clients’ specific technical requirements.
PV3 Technologies was formed in 2011 by majority shareholder and chief executive David Hodgson. He has led the business through significant growth in recent years, supported by chief technology officer Nick Van Dijk, who joined in 2017. Both Hodgson and Van Dijk will remain in their roles following the acquisition.
SMH advised and assisted on various matters for the shareholders throughout the transaction.
Ross Jordan, senior manager at SMH, said: “Finding the right fit of corporate advisors to handle the deal for David was our main priority during the initial stages. Having previously worked closely with Patrick for a number years, it was great to bring Castle Square in on this deal, I knew the fit would be perfect.
“David’s technical knowledge and passion in this field is clear for all to see, he has developed a business which is primed for rapid growth and this acquisition allows for some real synergies between the two businesses. This will really propel PV3 forward over the coming years and will ensure David’s business and industry legacy is well-looked-after.”
Director Patrick Lynch from Castle Square, which has offices in Sheffield and Leeds, advised the PV3 Technologies shareholders on the transaction.
Lynch said: “David, Nick and the Team have established niche range of coatings and powder products suitable for multiple applications using innovative production techniques. In partnership with the TFP Team the business is poised to take advantage of significant growth opportunities serving new and existing clients across a number of fast-growing sectors.”
Led by corporate partner Adam Kudryl and supported by associate Callum Giliker, the Harper James corporate team provided legal advice and support to the PV3 Technologies shareholders.
Kudryl added: “We are pleased to have supported the principal shareholders of PV3 through what is a key moment – their exit as owners and realisation of the value that their hard work has built in the business. This transaction also secures a bright future for PV3 and its employees and will it enable it to grow, develop and move into new markets, so is an exciting deal to have been a part of.”
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