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18 August 2022

Charles Russell Speechlys advises the discoverIE Group on its acquisition of the CDT Group

Charles Russell Speechlys has advised the discoverIE Group on its acquisition of the CDT Group, a designer and manufacturer of customised plastic enclosures for circuit boards, membrane keypads and associated electronics components. The CDT group was acquired for a total cash consideration of £5.0m on a debt free, cash free basis, before expenses, funded from the Group’s existing debt facilities.

The CDT Group, based in Northamptonshire, will be integrated with the discoverIE Group's Contour business cluster within the Sensing & Connectivity division, whilst retaining its distinct brand identity. The acquisition will enhance the cluster's engineering capabilities, further integrating custom electronic designs with their enclosures, enabling more highly differentiated opportunities.

Jeremy Morcom, Group Head of Corporate Development commented: “The Charles Russell Speechlys’ team provided us with first class legal support on this transaction for discoverIE. Their technical knowledge and commercial outlook enabled the team to address any issues arising in a timely and practical way.”

Corporate Partner, Jonathan Steele, speaking of the deal said: “We thoroughly enjoyed working with the discoverIE team on this transaction. The addition of the CDT Group is the latest in a strong pipeline of acquisition mandates on which we have advised the Group as it executes its growth strategy. We look forward to continuing to support them as they grow and expand in the UK and internationally.”

The team was led by Corporate Partner Jonathan Steele and Senior Associate Samuel Milne, supported by Tertius Alberts (Associate), Michael Barrington (Associate), Francesca Charlton (Trainee) and Harriet Page (Paralegal) in Corporate, Sophie Lockwood (Senior Associate) and Jack Vaughn (Associate) in Employment, Caroline Young (Senior Associate) in Commercial, and Sarah Keens (Associate) in Real Estate.

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