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Outset shortlisted in Insider Media Dealmakers Awards
We were extremely proud that the sale of Simtek EMS to the Pexion Group - a deal we worked on last year was recently shortlisted in the Deal of the Year (transactions size under £10m) category of the Insider Media Dealmakers Awards 2020.
The deal involved Simtek EMS, a manufacturer of lifesaving products for a variety of industries selling to the Pexion Group - a group of engineering companies specialising in design and manufacture solutions for some of the world’s biggest OEMs and Tiered Supply Chains.
After 15 successful years at the reins, joint owners Richard Samuel and Lee Boulton decided to sell the business. Both Richard and Lee were employees of Simtek EMS for many years before purchasing the company in 2004 as part of a management buyout and had experienced major growth with the EMS / CEM company, building a diverse product range to include medical, marine, automotive, navigation, audio, leisure and industrial electronics. They successfully led the business from an annual turnover of £0.9m to over £7m at the time of sale, after a number of key investments in technology helped to deliver cost-effective solutions which rivalled many offshore manufacturing alternatives.
Outset provided legal support on the deal working alongside M&A advisory and transaction services specialists, WK Corporate Finance.
The teams consisted of:
- Outset - Sean Gorman (Corporate), Tilly Clarke (Corporate), Carle Loveday (Corporate), Chloe Pereira (Employment) and Amy Husk (Property).
- WK Corporate Finance - David Ellis (Corporate Finance)
Sean Gorman, Managing Director of Outset said “We always aim to demonstrate our difference and that there are better ways to support clients through transactions. I’m glad Richard and Lee felt the benefit of that. It was a pleasure to share their journey and support them on such a personal and important transaction.”
David Ellis, Director at WK Corporate Finance added “Richard and Lee have built a legacy at Simtek which will add significant weight to the Pexion Group’s portfolio. We are delighted to have worked with the team on this deal and wish them all the best in their next stage.”
The Insider Media Dealmakers Awards ceremony took place on Thursday 6th February, the Simtek deal narrowly missed out on picking up the award but we're extremely pleased to have been a finalist in such a competitive category.