PEM Corporate Finance leads on majority sale of Orbital Fabrications Limited
Orbital has around 80 employees and a turnover of approximately £14 million with good profitability. Since 1988, Orbital has been offering specialised orbital welding and high-tech fabrication to a variety of clients within the semiconductor, pharmaceutical, aerospace, chemical and allied industries.
Bergman & Beving specialises in acquiring and developing leading companies within niche markets that provide productive, safe and sustainable solutions to the industrial and construction sectors.
The three siblings heading the Orbital operation – Ian Pearson, Phillip Pearson and Susan Scrivener – said of the deal: “We are excited to become part of the Bergman & Beving Group. With support from a professional and solid owner we will be able to increase the company’s growth going forward.” The two brothers will continue as minority shareholders.
Oscar Fredell, head of Division Tools and Consumables at Bergman & Beving adds: “Orbital is a leading player within its niche on the British market. With a high level of know-how, a wide and loyal customer base and good market conditions, we see good opportunities for further profitable growth.”
Orbital will be part of the Division Tools & Consumables and the closing will take place with immediate effect. The acquisition is expected to have a marginally positive effect on Bergman & Beving’s earnings per share during the current fiscal year.
PEM Corporate Finance was appointed by the vendor as lead adviser on the sale. Philip Olagunju, Simon Kinsella, and Jan Ansari provided corporate finance advice throughout the life of the project, initially carrying out an extensive marketing exercise, leading negotiations with several trade and private equity buyers and providing transactional support on the legal drafting when required.
Jan Fachot and Michael Godfrey from the PEM Business Tax team provided tax advice. Legal advice to the vendors was provided by Inger Anson, Monty Chamberlain and Annabelle Oomens from HCR Hewitsons. Nina Smith at Shoosmiths advised Bergman & Beving.
• Pictured from left to right: Nina Smith (Shoosmiths), Martin Lundberg (Bergman & Beving), Daniel King (Teng Tools), Inger Anson (HCR Hewitsons), Sue Scrivener (Orbital Fabrications), Phillip Pearson (Orbital Fabrications), Oscar Fredell (Bergman & Beving), Jan Ansari (PEMCF), Ian Pearson (Orbital Fabrications), Simon Kinsella (PEMCF), Monty Chamberlain (HCR Hewitsons), Annabelle Oomens (HCR Hewitsons), Philip Olagunju (PEMCF). Image courtesy of PEM Corporate Finance.