RDCP Group Acquires 75% Stake in Pexion in £34 Million Deal
Armstrong Teasdale represented its client RDCP Group in its acquisition of a 75% stake in precision engineering group Pexion, in a transaction valued at £34 million.
London-based investment firm, RDCP Group, is also providing Pexion with a £12 million facility to support bolt-on acquisitions and to grow earnings before interest, tax, depreciation and amortization (EBITDA) to more than £20 million within five years. The acquisition of Pexion increases RDCP’s assets under management to $600 million, with 2,800 staff members in the U.K.
Established in 1986, the Pexion Group is a diversified group of high-value precision and electronic engineering businesses. It operates 16 subsidiaries serving some of the world’s biggest original equipment manufacturers and tiered supply chain providers. Services include design, development, prototyping, medium to high volume production with fully integrated supply chain solutions. Clients operate across the aerospace, defence, oil and gas, precision automotive, power generation and medical industries.
Armstrong Teasdale’s U.K. Mergers and Acquisitions team represented RDCP in the transaction and was led by Partner Martin O’Donoghue. He was assisted by Senior Associate Coral Yu and Solicitor Zuzanna Oldfield. Martin said: “We are delighted to be able to support Sameer, Iryna and RDCP as RDCP continues its growth trajectory, and we look forward to serving them in future.”
Sameer Rizvi, founder and chief executive of RDCP Group, said, “Pexion is an important acquisition for RDCP Group as it gives us immediate and deep access to UK's precision engineering and precision manufacturing sectors, which typically have high barriers to entry. We appreciate the hard work put in by Martin and the rest of the Armstrong Teasdale’s team in helping us complete this transaction.”