Charles Russell Speechlys advises the discoverIE Group on its acquisition of Silvertel
Charles Russell Speechlys has advised the discoverIE Group, a long-standing client of the Firm, on its acquisition of Silvertel for an initial cash consideration of £21 million on a debt free, cash free basis.
discoverIE Group, a leading international designer and manufacturer of customised electronics, has acquired Silvertel, a UK-based company that specialises in the design and development of advanced power modules and advanced telecom interface solutions, for an initial cash consideration of £21 million. An additional earn-out of up to £23 million will be payable subject to Silvertel’s performance over the next four years. Completion of the acquisition is expected to be received later this quarter and it is subject to approval under the UK National Security & Investment Act.
Jeremy Morcom, Group Head of Corporate Development, Discoverie Group, commented:
“The acquisition of Silvertel is well aligned to support our strategy of building a differentiated, international, growth focused electronics group and the advice from Mark and the wider team at Charles Russell Speechlys was vital to the success of this transaction.”
Mark Howard, Corporate Partner, commented:
“As always, we were delighted to support the discoverIE Group on this significant transaction. We look forward to seeing them grow with the exciting addition of Silvertel’s Power-over-Ethernet technology.”
The team was led by Corporate Partner Mark Howard with support from Corporate Associates Iwan Thomas and Marc-Us Ong. The wider team included Ingrid Saffin, Michelle Noble and Jessi Tamber (Real Estate), Caroline Young and Rachel Bell (Commercial), Paul Stone (Competition), Ben Smith and Briony Richards (Employment), and Robert Birchall and Tessa Newman (Tax).
