Battery deal powers ahead

Somerset-based custom battery pack manufacturer Creasefield Limited has been acquired by Solid State Plc in a deal handled by the Taunton office of Clarke Willmott LLP.

The entire issued share capital of Creasefield, based in Crewkerne, Somerset, was purchased by Worcestershire-headquartered Solid State, which is AIM listed, in a deal where all sides said the two operations are “highly complementary”.

Kirill Bingham of Clarke Willmott’s Corporate team, and who lead the transaction, said: “We were delighted to be able to support the exiting shareholders and would like to wish the new owners every success for the future. It is always nice to help a Somerset business develop by becoming part of a bigger entity.”

Creasefield designs and makes battery packs that are used in a wide range of sectors.

Jason Holt, one of the sellers, said: “Kirill and his colleagues at Clarke Willmott provided excellent support and guidance throughout the process. Always thorough and tenacious, Kirill delivered timely progress with a calming influence which was invaluable.

I would have no hesitation in recommending Kirill and the team at Clarke Willmott.”

Clarke Willmott acted for the sellers. Milsted Langdon LLP’s corporate finance team lead by Susannah Adams brokered the transaction and provided accountancy and tax advice.  The buyer was advised by Shakespeare Martineau LLP.