Clarke Willmott acts on Relec deal
Our Corporate team have advised Dorset-based Relec Electronics Ltd. on its £3.5 million acquisition by DPW Holdings, the holding company for US business Gresham Worldwide.
Relec, established in 1978 and based in Wareham, supplies power conversion and display technology products in the industrial, rail transportation and emerging electronic markets.
Gresham Worldwide’s UK subsidiary, Gresham Power Electronics, based in Salisbury, has been designing and manufacturing power electronics for the naval and industrial markets for more than 50 years.
Gresham Power Electronics and Relec will continue to operate as stand-alone businesses, with managing director Peter Lappin and the Relec management team remaining with the business.
Relec’s premium power electronics and display technology offerings will augment the Gresham Worldwide manufacturing base while providing more resources to Relec for growth and expanding access to market sectors for both companies in the UK and Europe.
Kelvin Balmont, partner and chairman at Clarke Willmott, who also heads our corporate team in Southampton, led on the transaction.
Peter Lappin, Managing Director of Relec, said: “Kelvin Balmont, Emma Couch and the team at Clarke Willmott surpassed all expectation that I think anyone could have assisting Relec through a complicated transaction.
“Their patience, clarity, advice, clear thinking, attention to detail, very importantly their responsiveness and, when needed, pragmatic approach was without doubt instrumental in completing the deal. It really was a pleasure working with them and having full confidence in your legal team is clearly one big stress less.”
Kelvin said: “This deal reinforces our firm’s reputation for expertise in mergers and acquisitions, and I’m pleased we were able to help Relec manage a smooth transaction. The deal also highlights the UK’s continuing attraction to major US and global players as a centre of excellence.”