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Howes Percival makes the connection for cable company sale

Written by Howes Percival
Thursday, 07 February 2008
A Northamptonshire business at the forefront of the UK microwave cable supply sector has been bought by a Berkshire based company in the same industry. Rhophase Microwave, of Corby, was acquired by Rosenberger Micro-Coax, based in Aldermaston. The Northampton office of law firm Howes Percival LLP advised the vendors, who set up Rhophase in 1985 and who are staying on to work in the business. Rosenberger Micro-Coax, a UK joint venture between German and US firms, bought the entire issued share capital of Rhophase for an undisclosed sum. Gerald Couldrake, head of Howes Percival’s corporate team at Northampton, said: “We are always pleased to help the founders of a business unlock the wealth they have generated building up their venture over many years, in this case during more than two decades. Rhophase is a quality business which attracted a very good deal.” Rhophase, which operates from 11,000 square feet factory on Corby’s Earlstrees Industrial Estate, supplies customers in various fields, including the defence, telecom, medical, motor racing and electronics industries. It employs 26 people. Grant Thornton provided both corporate finance and tax advice to the vendors. Alex Steel, Senior Manager at Grant Thornton Corporate Finance, said: "Rhophase has an excellent reputation in its market and we worked closely with the shareholders to identify strategic buyers. By building relationships with all of the potential buyers we were able to recommend the preferred party not just on price, but on deliverability and cultural fit." Byron Putt, who sold his shareholding in Rhophase in the deal, said: “The teamwork between our advisors – Grant Thornton and Howes Percival – was exceptional. They guided us through some challenging negotiations to reach a very successful conclusion.” Mr Couldrake said: “Grant Thornton introduced us to the vendors as we are specialists in the sale of companies in these circumstances. We were delighted to be able to guide the selling shareholders through the process to a successful conclusion.”