Mogers Drewett & Old Mill advise on sale of Golledge Electronics to Techpoint
Somerset based Golledge Electronics sells to Techpoint backed by Literacy Capital. Golledge has been advised by South West firms, Old Mill (Financial) and Mogers Drewett (Legal).
Golledge is one of the market leaders in the global supply of frequency control products. Golledge has benefitted from significant growth in recent years, with its wide range of frequency control products approved in some of the world’s largest manufacturing businesses.
Dan Croft, Executive Chairman of Techpoint, said: “The addition of Golledge represents an excellent strategic fit to our existing businesses, aligning seamlessly with the groups ‘centres of excellence’ strategy.”
Golledge will continue to be based in their Somerset logistics centre, delivering exceptional design-in and technical support to some 700+ global customers.
Corporate Commercial Partner Tom Webb at Mogers Drewett said: “It has been a pleasure working with Jon and the wider advisory teams on this matter. Like any deal, this transaction had its complexities but we’re delighted that, along with the other deal advisors, we achieved a challenging timetable and delivered a deal with which all parties were pleased. Jon has built a fantastic business which I am sure will now go from strength to strength as part of the Techpoint group.”
Mark Neath and Scott Hill at Old Mill’s Corporate Finance Team said: “It has been a pleasure advising Golledge on this transaction and working collaboratively with all parties involved. It’s been great to not only secure Jon the sale but the exciting future opportunities that come with remaining involved in Techpoint. We ensured we harnessed a strong buyer/seller relationship even in the most challenging stages of deal negotiation which was essential given the working relationship that will be held post deal. Our style is to work collaboratively, not adversarially, to get a great deal for our client yet a deal that works for everyone.”
Jon Golledge founder of Golledge Electronics said: “The support from both Old Mill and Mogers has been brilliant, they provided exemplary guidance and gave me great confidence that I have a deal that is fair and that everything has been done correctly giving fantastic peace of mind.”