GBH Advises on Sale of Willow Technologies
The corporate team at GBH Law have advised on the sale of Willow Technologies to Solid State plc for an initial consideration of £10m.
Crawley based Willow Technologies, a manufacturer and distributor of electro-mechanical products, was founded in 1989 and operates within the UK, Germany, Spain and the US. Its subsidiary, American Electronic Components (AEC) which is based in Indiana, was founded as Durakool in 1935 and acquired by Willow Technologies in 2006.
Commenting on the deal, Mark Del Giudice, chief executive of Willow Technologies, said: “By joining the Solid State Group, we have become part of a dynamic organisation which shares our approach to providing niche products to new and developing growth markets. Our product portfolios complement one another, and we will work together to ensure growth for both our business partners and our staff. I look forward to the next chapter of our business development and becoming part of the Solid State Group’s future.”
Kate Doody, who led the team at GBH, commented: “It was a pleasure to work with Mark and Martin on this transaction and we wish them, and the Solid State team, all the best for the future. It has been a busy start to 2021 for the GBH Law corporate team, and there is no sign of the deal flow abating. The M&A market is buoyant, which is good news for buyers and sellers alike! ”
For more information about the corporate team at GBH Law, or to discuss any corporate or other business legal advice you may require, please contact Kate Doody.