Having built the business over the last decade and positioned it for profitable future growth, the shareholders of Speedboard Assembly Services Limited decided that, to facilitate the retirement of one major shareholder and allow for future growth, they should sell the company to a larger global company in the CEM sector.
Utilising our global network and relationships, NOTE AB a company quoted on the Stockholm Stock Exchange and with strategic facilities throughout Europe and China made an offer for the company. NOTE saw the fit with its own current UK operations in order to strengthen its current offering in the UK. In addition, they liked Speedboard’s blue-chip client base and saw the opportunity for further expansion.
The fact that Speedboard’s current MD and shareholder Neil Owen wished to stay with the company to assist into the future was a significant advantage and attraction to the purchasers.
We were able to allay concerns over the possible impact of Brexit following a detailed assessment.
Good relationships with the client and the prospective purchaser allowed for this and other commercial issues recognised during the transaction to be surmounted, leading to a successful conclusion.
"After many years building the business to its current, successful position; it was important to us to ensure that Speedboard and its people found new owners who would support and accelerate future growth. Grant Thornton have worked with us tirelessly to find the right buyer and to ensure a successful transaction and we are grateful for their support and tenacity throughout."
Richard Watson Major Shareholder and Finance Director, Speedboard Assembly Services Limited
