Press releases | Private Equity & Financial Sponsors, Tax | 31 Jul 2019

Travers Smith advises Equistone Partners Europe on its investment in Bulgin

Overview

Travers Smith LLP has advised long-standing client Equistone Partners Europe (Equistone) on its agreement to acquire a majority stake in Bulgin, a leading UK-headquartered developer and manufacturer of environmentally sealed high-performance engineered solutions, from Elektron Technology PLC for an enterprise valuation of £105 million. Completion of the transaction remains subject to customary closing conditions.

Founded in 1923 and headquartered in Cambridge, Bulgin develops and manufactures connectors and related components for harsh-environment applications, in sectors including industrials, transport & infrastructure and medical technology. It has locations in the UK, North America, Asia-Pacific and North Africa. 

The company supplies c.92,000 end users across Europe, North America and Asia-Pacific through its direct sales team and a network of third-party distributors. In recent years, Bulgin’s management has successfully invested in the development of new cutting-edge fibre and sensing products and rationalised its product range and distributor base. The business employs c.680 people and generates annual revenues in excess of £30 million.

The Travers Smith team was led by Private Equity & Financial Sponsors Partners James Renahan and Emma Havas, who were supported by Senior Associate Tom Hartwright and Associates Henry Don, Kim Meadowcroft and Oliver Murphy. Specialist advice was provided by Tax Partners Russell Warren and Hannah Manning, Finance Partners Andrew Gregson and Barry Newman and Finance Associate Taggio Price.