Wake Smith advises Guardian on acquisition by PTSG
Wake Smith has advised the shareholders of Guardian Electrical Compliance Ltd on the company's £16m acquisition by specialist services provider PTSG.
PTSG bought Guardian Electrical, a market leading electrical testing and compliance company, earlier this month, attracted by the Sheffield-headquartered company’s exceptional growth track record, management team and large blue-chip customer base.
It was also impressed by Guardian’s unique, advanced proprietary software which will be combined with PTSG’s own in-house platform to produce a compelling technology compliance solution for customers, and will look to continue the growth of the Guardian business. The shareholders will stay with the business.
John Baddeley, who has acted for Guardian Electrical on a number of previous matters over the years, added: “We are delighted to have advised the shareholders of Guardian on this transaction. The shareholders are comforted by the strong message from PTSG that growth, support and investment, as part of a bigger company, will be forthcoming.”
Talking about the acquisition Paul Teasdale, CEO of PTSG, said Guardian was a highly complementary and attractive acquisition due to its exceptional growth track record, management team and large blue-chip customer base.
He said: “Critically it fits our clear acquisition model by presenting significant opportunities for cross selling additional PTSG services as well as margin improvement, whilst supporting our long-term goal of sector dominance.”
He said the transaction reflected the group’s determination to grow revenues from compliance related services that now stood at record levels.
He added: "Furthermore, we believe Guardian’s proprietary software is unique in the market and, when combined with our own in-house platform, Clarity, will provide our customers with a highly advanced and compelling compliance solution.”
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