The acquisition of Telford's Torus Technology Group Limited by a US company has been announced.
Accountancy and business advisory firm BDO LLP acted as advisors as Industrial Physics LLP, which is backed by leading global investment firm KKR, acquired Torus.
The Midlands Corporate Finance team at BDO acted as exclusive sell-side adviser to Torus Technology Group Limited, a manufacturer and global provider of custom designed and automated inspection and testing systems. The Torus deal follows shortly after BDO acted as sell-side adviser to Utopia Tableware Limited, a company that specialises in tableware, glassware, and accessories designed for the hospitality and branded glass market. Utopia was acquired by Steelite International, a portfolio company of another US private equity house, Arbor Investments.
Roger Buckley, M&A partner at BDO in the Midlands, said: “Both deals demonstrate BDO’s ability to attract US buyers and the continued appetite of US PE-backed businesses for exciting and dynamic companies. These deals demonstrate real success stories in the region. “The industrial sector is proving to be resilient in a slower M&A market. The sale of two great Midland businesses to international heavyweights is a strong indication that the market still presents significant opportunities for quality businesses. These latest BDO deals represent our ninth and tenth industrial deals in the Midlands so far this year.”
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