Castle Square advise on the acquisition of specialist calibration company
Sheffield based businessman Robert Senior, and his business partner Ian Knights have acquired a controlling stake in Pennine Instruments Limited for an undisclosed sum, in a deal where the Buyer was advised by Yorkshire based Corporate Finance specialists, Castle Square Corporate Finance.
Operating from its dedicated facility in Sheffield, Pennine Instruments Limited is a highly regarded instrument calibration company, which provides business critical testing for health and safety purposes. The Company uses state-of-the-art equipment to test and calibrate thousands of various units, before advising on the most appropriate course of action such as replacement or repair. Its calibration specialisms include light, heat, sound, pressure, electrical, and air velocity.
Since formation of the business in the 1980’s and under the ownership of experienced Managing Director, Greg Bell, Pennine has grown to become a respected, well-known provider in the industry.
Pennine Instruments has strong relationships with a wide range of blue-chip clients operating in multiple sectors including manufacturing, automotive, rail, engineering, healthcare, compliance, health & safety, defence, and energy.
Robert Senior, who has been working in the Company for several months, will become the new CEO of the Company and will be joined by his business partner and new Sales Director, Ian Knights.
Robert and Ian will add to the existing, talented Management Team, bringing with them a wealth of experience in owning and operating successful businesses in various industries, most recently providing specialist products to customers in the rail sector.
Robert has over 25 years of experience in building successful businesses.
Robert Senior, said, “Thank you to Brad and Patrick at Castle Square for their expert advice in relation to our purchase of Pennine Instrument Services Ltd. A wealth of knowledge and contacts contributed to a successful deal that satisfied all parties’ requirements “.
Yorkshire based dealmakers Castle Square Corporate Finance ran a competitive funding process, seeking acquisition finance.
Led by Relationship Manager, Charlotte Faulkner, HSBC emerged as the preferred funder and backed the acquisition, alongside new management investment.
Rob Moore and Richard Whiteley from the Sheffield office of Taylor Emmett LLP provided legal services and advice to the Buyer.
Castle Square is an independent, specialist mid-market corporate finance boutique operating from offices in Sheffield and Leeds. Castle Square has a proven track record of successfully delivering corporate finance services on a wide range of clients based across the UK and internationally.
Brad Green and Patrick Lynch from the Castle Square Team advised the Buyer on the acquisition.
Brad Green, Consultant at Castle Square Corporate Finance said, “Fantastic to have advised Rob & Ian on the acquisition of Pennine Instruments, a company which has been run successfully in Sheffield for over 40 years.
The introduction of Rob and Ian is an exciting time for the future of the Company as the pair are keen to drive growth, bringing in new clients from their extensive network of business contacts and beyond. I would like to wish them both all the best”.
HSBC remains a household name in the UK banking market, offering wide range of savings and funding facilities for both business and personal clients amongst a wealth of other service offerings.
Charlotte Faulkner, Relationship Manager at HSBC, said “We’re thrilled to support Pennine Instruments with growth plans and help the business to continue providing critical services for its client base. We look forward to seeing the business continue to grow and strengthen for years to come."
Taylor Emmett LLP are an independent legal firm consisting of over 120 professionals. The firm provides various legal services to both businesses and individuals across the UK and internationally.
Led by Partner, Rob Moore and supported by Solicitor, Grace Draycott, the Taylor Emmett corporate law team provided legal advice and support to the Buyer on the transaction.
Rob Moore, Partner, said, “We were delighted to provide the legal support to assist Robert & Ian in acquiring a controlling stake in Pennine Instruments, and we are excited for what the future holds for them. It has also been a pleasure to work with Brad and the team at Castle Square Corporate Finance on the project”.
With the support of Associates Christopher Johnstone and Robert Mander, Partner Peter Crawford of Freeths LLP’s Sheffield office advised HSBC from a legal perspective.
Alex Ross, Partner at Bell & Buxton LLP provided legal advice to the Seller.
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NOTES TO THE EDITOR
Yorkshire based Castle Square Corporate Finance offer pro-active corporate finance advice to clients throughout the UK, tailoring our service to our clients and their markets, giving us an enviable record of successfully completing deals, including acquisitions and mergers, Management Buy-Outs and Buy-Ins, finance raising and disposals.
Contact Details:
Kevan Shaw (Managing Director)
Castle Square Corporate Finance
Tel: 0114 213 8353
Mob: 07810 275 514
[email protected]
twitter: @castlesquarecf
website: www.castlesquarecf.co.uk
LinkedIn: www.linkedin.com/company/castle-square-corporate-finance
