Rockpool-backed electronics firm makes European acquisition

A Basingstoke-headquartered provider of electronics manufacturing services which is backed by Rockpool Investments has expanded with the acquisition of a Netherlands business.

EC Electronics Group has snapped up Liad Electronics, funded through a debt package from Shawbrook Bank and further funding from Rockpool Investments

Liad Electronics Breda specialises in printed circuit board assemblies to high-tech customers who have sophisticated electronics manufacturing requirements.

The acquisition of Liad provides EC with greater presence in mainland Europe and further manufacturing capacity. The group’s Netherlands operation will continue to be overseen by Rick Meesters who will be re-investing into the group and joining the board. This marks the second acquisition following Rockpool’s investment in September 2022.

The Shawbrook Bank senior debt package will provide EC Electronics with access to capital to deploy into future acquisitions as EC continues its search for complementary electronics manufacturing businesses.

Phil Simmonds, chief executive of EC Electronics, said: “We are very excited about Liad Electronics joining the EC Group and working with the incredibly experienced team there.  Liad will now be the foundation for the next stage of our growth plans in mainland Europe and a key part of the future success of the group.”

Rick Meesters, managing director of Liad Electronics, added: “The additional services offered by EC will allow us to significantly improve our position and provide extra support to existing relationships.”

Guy Nieuwenhuys and Toby Hurdle led the investment for Rockpool.

Nieuwenhuys said: “EC’s strategic acquisition of Liad Electronics in the Netherlands represents an exciting opportunity to accelerate growth in mainland Europe. We are delighted to be partnering with Shawbrook Bank on this acquisition and we look forward to continuing the buy and build strategy.”

James Salmon, senior director at Shawbrook Bank, added: “Phil impressed us from the get-go, whilst EC clearly evidenced to us a compelling point of focus and differentiation. Combined with Rockpool’s combined capital and M&A support, we are truly excited for EC’s future.”

EC Electronics and Rockpool was advised by Cavendish (debt advisory), Taylor Wessing (EC debt & equity legals), Evelyn (vendor financial/tax), Van Campen Liem (Liad legals and NL tax), Accuracy (Liad financial & commercial) and Claritas (UK tax). Shawbrook were advised by Addleshaw Goddard (legals).

Liad was advised by OSCF and OvernameAdvies (corporate finance), Taylor Wessing NL (legals) and Atlas (Tax).

SOURCE: Insider Media


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