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.
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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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