Pyser-SGI sets its sights on future growth17 September, 2015
A high tech manufacturer and supplier of precision optical equipment – including night vision goggles for NATO forces – has been sold to a private equity firm with help from Cripps.
Kent-based Pyser-SGI is a world leader in its field, supplying sophisticated equipment to clients around the world. It has been bought for an undisclosed sum by Privet Capital.
As well as supplying the defence sector – with its equipment used by elite units such as the US Army’s snipers – the Edenbridge firm has divisions specialising in cameras and measuring devices.
Partner Salim Somjee led the Cripps team advising on the sale with support from colleagues in the corporate, employment and property teams. Cripps also acted for one of the former management team investing in and remaining with the business.
“Pyser-SGI is a fantastic British success story with a global reputation for innovative design and the quality of its products,” said Salim. “I am confident it will continue from strength to strength under its new owners.”
Former Pyser-SGI finance director Jeremy Smith, who was one of the shareholders selling to Privet Capital, added: “It really felt as though the solicitors from Cripps were part of our team. They were at our side every step of the way with timely, practical and expert advice.”