International deal to boost UK high tech growth
International legal expertise from law firm Cripps has opened the way for a high tech French company to invest in the UK.
Environnement S.A, Europe’s leading supplier of environmental monitoring equipment, has bought Cambridgeshire-based PCME Ltd, a specialist in the development, manufacture and supply of continuous particulate emission monitors for industrial processes.
The complementary strengths of the two businesses will enhance the enlarged group’s global position, enabling it to offer a wide range of advanced solutions to meet current and future environmental monitoring requirements.
“As well as the complex legal documentation that needed completing, there were also cultural sensitivities to manage. I am delighted we were able to help steer this deal to completion, the most important to date for Environnement S.A, a €55m turnover group, listed on the Paris stock exchange,” said Olivier Morel, Partner, head of international corporate investment, who led the Cripps team.
Each entity will keep its own autonomy, retaining the current management team and employees.
François Gourdon, President and founder of Environnement S.A, said: ”We are very enthusiastic about the opportunities we’ll be able to provide to our worldwide industrial customers and are grateful to Cripps for their help in making this acquisition a success.”
William Averdieck, Managing Director and founder of PCME Ltd, added: “Both management teams have known and respected each other for many years. This new partnership will boost our growth, allowing us to double revenue within five years, reaching new customers, new markets and new applications worldwide.”
The Cripps team advising the acquirer consisted of Olivier Morel, Rachel Butler and Will Squires. Peter Watson, Prism Corporate Broking, provided corporate finance advice to the seller, with taxation advice from Mark Jackson of Rawlinsons and legal advice from Duncan Walker at Greenwoods LLP.