立石为为复杂的生命科学设备提供高压电源的专业制造商Applied Kilovolts 出售予 ITT Exelis 提供咨询
Livingstone has advised the shareholders of Applied Kilovolts on the sale of the business to ITT Exelis, the $2.3bn market cap US defence and security technology manufacturer.
Based in Goring-by-Sea, Sussex, Applied Kilovolts is a recognised world leader in specialist high voltage power supplies for complex life sciences equipment, providing its products to almost all of the world’s leading mass-spectrometer manufacturers. The company’s core markets are experiencing sustained global growth as the world adopts advanced analysis and testing technologies, and this acquisition represents a significant strategic step for the acquirer, ITT Exelis, as it seeks to expand its capabilities beyond its traditional defence and security markets. Livingstone ran a confidential and highly targeted auction process on behalf of Applied’s shareholders, producing strong international strategic interest within the power equipment market. Exelis, which was spun out as an independent business by US corporate giant ITT in 2011, was able to meet not only the shareholders’ valuation expectations but also management’s desire for a strong and supportive industry partner going forward.
Kevin Wheelhouse, Managing Director of Applied Kilovolts said: “The commitment to this transaction of Exelis and the strategic fit with our business will allow Applied Kilovolts to continue to grow and drive technology advancement in HV power. We enjoyed working with the Livingstone team, who provided a structured, rigorous process to identify and penetrate the buyers with the right strategic reasons to acquire our business. They were tireless in working to secure the best possible terms for the shareholders.”
Ron Gordon, General Manager of the Exelis power solutions business added: “The acquisition of Applied Kilovolts extends our technical capability, global presence and customer base, we believe this company and its employees are an excellent fit with the Exelis organisation and will complement our current position as a technology leader and supplier to the commercial analytical instrumentation market.”
Graham Carberry, Director at Livingstone Partners, who managed the transaction process, commented: “We have enjoyed working with Kevin and the Applied Kilovolts team. They have built an a world-class technology business over many years, and we fully expect this to continue and accelerate under Exelis’ ownership. “This is another fantastic cross-border tombstone for Livingstone in the Electronics sector, following on from the sale of Cableform to Hubbell Inc. of the US earlier this year, and five electronics transactions in 2011.”