Oxalis Group Limited / Eaton Corporation Plc
Cavendish is delighted to announce that it has advised on the sale of Oxalis Group Limited, a global safety technology group, to power management company Eaton . The terms of the sale were not disclosed.
Oxalis specialised in the design, certification, manufacture and distribution of telecommunication products and solutions for use in extreme oil, gas and marine related environments. Solutions include closed-circuit TV camera stations, public address/general alarm systems and other electrical products that protect and safeguard assets, infrastructure and people. The group is based in Stratford upon Avon and has two manufacturing sites in the United Kingdom.
Eaton is a power management company with 2013 sales of $22.0 billion. Eaton provides energy-efficient solutions that help customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably.
The growth potential, technology leadership, strong management team and complementary product portfolio make Oxalis a strategic fit within Eaton’s hazardous area communications solutions. The acquisition adds important hazardous area communications capabilities while expanding Eaton’s closed-circuit camera station offerings.
Rob Whorrod, majority shareholder and founder of Oxalis said “This transaction is a tremendous achievement for all involved. Not only is Oxalis a great fit for Eaton’s excellent hazardous area communications business, it is a well-managed operation that has consistently demonstrated an ability to return strong profit and revenue growth. Our investment in the very best manufacturing facilities and our attention to detail in regard to intellectual property, particularly the generation of patented technology, has reaped significant rewards. The business can only benefit further from the scale and market reach that Eaton will bring”.
The successful transaction adds another strong client to the Cavendish’s industrials team portfolio following the sale of rail components manufacturer Fandstan Electric Group Limited to Wabtec Corporation for circa £130 million earlier this year.
“The Cavendish Team, led by Alistair and Mike, did a fantastic job managing the process, providing valuable advice and identifying Arbuthnot as the right partner for the business. It was a pleasure working together and we are pleased to have achieved a brilliant outcome for the company.”
“The Cavendish team were an integral part of this successful process. They were committed and professional throughout. Hydreco has an established market position, international footprint and complementary mobile hydraulic product line and this should be an exciting next phase of growth for the business under new ownership.”
“We are proud of the leading global business Xtrac is today; persistent innovation and exceptional customer service remain our highest priorities. Inflexion shares our values; its investment will accelerate our ambitious growth strategy, developing the next generation of high-end automotive transmission systems and expanding our coverage of the high performance hybrid and electric car transmission market. This partnership with Inflexion supports Xtrac’s ethos of employee ownership, and our team look forward to a new chapter in the continuing development and growth of our company.”
Cavendish played an invaluable role throughout a complex transaction and in particular getting the transaction across the finishing line.
This deal provides an excellent platform for the Levolux business to continue its overseas expansion. As well as the compelling strategic fit, Alumasc provides an excellent home for the Levolux brand and team. We are delighted with the outcome and the support extended to us by Cavendish.
This has been a highly complex transaction involving 10 jurisdictions. Cavendish has held our hands throughout the process, providing a dedicated team who have done a superb job; this has greatly reduced interruptions to our businesses whilst adhering to the original timetable. Cavendish has achieved a very successful sale at a fair price to a buyer who will enjoy significant strategic value from the purchase.
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