Azets advises on acquisition of North-west precision technologies provider

Top 10 accountancy firm, Azets, which has branches across the North-west including in Stockport, has advised a North-west provider of precision technologies on its acquisition.

Heysham-based Forsberg Services has operated for over 35 years and has a strong reputation in the industry for its positioning, navigation and timing knowledge, engineering expertise, and unwavering commitment to meeting customer demand in both civilian and defence applications. It has been acquired by Teleplan Globe AS, a leading provider of software solutions for mission-critical systems, for an undisclosed sum.

Commenting on the acquisition, Chris Mayne, Managing Director at Forsberg Services Ltd said:

“As a team, we’re delighted to have reached a deal with Teleplan Globe AS which helps secure an exciting future for the business and its employees that aligns with our core values.

“Having worked together for a number of years, we have cultivated a close and strategic partnership with Teleplan Globe, resulting in the creation of truly innovative solutions. It is clear that the acquisition of Forsberg Services Ltd will further strengthen Teleplan Globe AS’s capabilities to benefit both existing and new customers, as well as a significant broadening of service offering for Forsberg’s existing customers.

“Thanks to the expert support and guidance of the Azets’ Corporate Finance and Tax teams, led by David Simmons and Jenny Pape respectively, the deal was a seamless transaction, allowing both companies to operate as normal during the process.”

David Simmons, Corporate Finance Partner at Azets in the North-west added:

“It’s been a pleasure to act on behalf of Chris and the team at Forsberg Services Ltd to agree a deal to secure an ambitious future for the company. We wish the teams all the best and look forward to seeing their success.”

Charles Forsberg, the founder and majority shareholder of Forsberg, will continue to support the company as an advisor. Chris Mayne will remain as the Managing Director and key management will stay as significant minority shareholders.

The shareholders of Forsberg Holdings Ltd were advised by Azets’ Corporate Finance (David Simmons and Nan Hao) and Azets Tax (Jenny Pape, Vicky Pickering and Amy Braithwaite). Weightmans were the legal advisors for the sellers.