Deal type
Sector
Gooch & Housego Plc acquisition of EM4, Inc
HMT Corporate Finance, led by partners Peter Barrand and Simon Jordan provided both corporate finance and due diligence services to Gooch & Housego PLC (“G&H”) on their proposed acquisition of EM4, Inc, a US manufacturer of fibre optics. The transaction will be funded by a placing of shares to raise approximately £10.6 million.
EM4, based near Boston, Massachusetts, designs and manufactures active fibre optic components and systems that are optimised for use in harsh and demanding environments. Its products are utilised in aerospace and defence applications, ranging from satellites to missiles and fighter aircraft, and also in specialised telecommunications, industrial and life sciences applications. The acquisition, which is expected to complete towards the end of January 2011, is subject to regulatory clearance in the US.
Gareth Jones, CEO commented, “The proposed acquisition of EM4 is directly in line with G&H's strategy of market diversification. EM4 will enable G&H to move further towards a fully integrated service platform offering both 'active' and 'passive' fibre optic technology, and enhance our penetration of the US aerospace and defence market. I would like to thank Peter and the HMT team for all their advice and support in getting the deal across the line.”
Peter Barrand commented, “We were delighted to advise G&H on their most recent acquisition, the seventh since flotation in 1997 and the next step in building a specialist aerospace and defence capability. To get the deal announced prior to Christmas was a significant team effort from all involved.”