Camlee Group advise Siga Electronics on their sale to Kamic Group AB
27 Sep 2018
The Camlee Group recently acted as lead financial adviser to SIGA (Electronics) Ltd on its sale to Sweden based KAMIC Group, a corporate group with the common aim of being a leading supplier of technical products and services in a number of well-defined niches.
Bedfordshire based SIGA (Electronics) Ltd is a leading manufacturer of all types of toroidal and bobbin wound components, and associated assemblies. Established in 1961, the company has steadily expanded and now occupies its own purpose built, 15,000-sq.ft factory where over 50 employees are involved in the production of an increasingly wide range of high quality transformers and inductors. SIGA’s products have a number of applications and the markets served include medical, aerospace, automotive and rail.
Dan Phelan, President of ETAL Group, a subsidiary of KAMIC Group led the transaction for the acquirer, bringing SIGA (Electronics) Ltd into the KAMIC Group, a group consisting of some 20 companies active in trade and manufacturing.
Dan commented “This is an excellent addition to the KAMIC Group of companies and I fully expect SIGA to flourish alongside ETAL Group within KAMIC's Magnetics Division”
Richard Thrussell, ex-shareholder Managing Director at SIGA (Electronics) Ltd will be overseeing the transition to new ownership post transaction. Richard and his wife Christine were advised by the Camlee Group.
Adam Cottam, Corporate Finance Manager at Camlee, who was lead advisor supported by Managing Director Cameron Varley said: “I would like to thank KAMIC for their professionalism throughout the transaction and I'm pleased Richard and Christine got the exit they were after, and I wish them both the very best for the future.”
Richard said “The sale of the business to KAMIC should help secure a bright future for the SIGA (Electronics) Ltd – with the support and opportunities available from being part of a large group ”
Oliver Phillips of Dixon Phillips solicitors advised the shareholders of SIGA Electronics, whilst KAMIC Group were advised by PDT solicitors.