CORPORATE finance specialists in Northampton have completed a deal that continues the expansion of one of the world’s largest power management companies.
Partner Wendy Lam and colleagues at Watersheds in Northampton have finalised the acquisition of Exertherm, a specialist in continuous thermal monitoring technology, by intelligent power management company Eaton.
The deal also enables Exertherm founder Ross Kennedy, who set up the business in 1987, to retire.
With the rise of digitisation, Exertherm’s technology has harnessed the potential of the Industrial Internet of Things but, when it came to planning his exit strategy, he wanted a buyer that valued the ethos developed over the past 36 years and would continue the company’s success.
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Main picture: Wendy Lam and Ross Kennedy after completing the deal.
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“The time was right to exit the company but I also wanted to ensure I was handing it over to new owners who would be able to bring the business to its full potential as well as securing the future of our current staff,” Mr Kennedy said.
“The advice and support I received from Watersheds was invaluable and they achieved top value as well as ensuring a smooth process of selling the business to a global business and the complexities that come with selling internationally.”
New owner Eaton manufactures products for the data centre, utility, industrial, commercial, machine building, residential, aerospace and mobility markets. Exertherm, based in Harpenden near Luton, is a tight-knit community with a family feel, For shareholders it was important the buyer had the right cultural fit to continue into the future, said Ms Lam.
“Watersheds has worked with Exertherm for a number of years and their technical expertise combined with their foresight of the industry has enabled them to grow to hold a strong position in this interesting and fast-growing market.
“Eaton is exactly the kind of organisation they wanted to see their business in the hands of and therefore we are happy we could help to fulfil their wishes with a deal that was too good to refuse.”
The deal was also supported by Laytons ETL for legal advice and Claritas for UK tax advice.
