Kestrel International Circuits Acquired In Multi-Million Pound Deal
Irwin Mitchell’s Corporate team has advised Merlin PCB Group Ltd on the sale of Kestrel International Circuits Ltd to Sweden-headquartered NCAB Group.
Founded in 1995, Kestrel is a leading supplier of value-added printed circuit board (PCB) solutions with annual net sales of £10m, mainly in the UK. Kestrel and has 20 employees in the UK and five in China and Hong Kong.
Kestrel is known as a leading source for a wide range of high-quality PCBs and operates in the aerospace, automotive, medical, broadcasting, telecommunications, industrial and commercial sectors.
Irwin Mitchell Corporate partner Adam Kaucher and Greg Mazgajczyk acted for Merlin PCB Group. Irwin Mitchell worked alongside KBS Corporate which provided corporate finance advice to the seller.
Neil Martin, Chairman at Merlin PCB Group, said: “We wish to acknowledge the high quality of service, professionalism and customer care of Irwin Mitchell in dealing with the sale of Kestrel. Their guidance and advice throughout this process has been a key factor in bringing this deal to a highly successful conclusion. I would highly recommend Adam and his team for the service they provide."
Peter Kruk, CEO of NCAB Group, said: “We are happy to announce the acquisition of Kestrel. The UK is an important industrial market and Kestrel makes a good match to our own activities there. NCAB Group UK had 30 employees and net sales of SEK 310 million prior to this. We find the product range and business model of Kestrel similar to ours. We expect that we will be able to offer Kestrels´ customers increased product options and better terms.”
David Grant, Kestrel’s managing director, said “Since it’s foundation in 1995, Kestrel International Circuits Limited has built its reputation on excellence of customer service, a stable and well managed supply chain and loyal enthusiastic employees. In looking for an entity to take the company to the next level we searched for someone who shared those founding values.
“In NCAB Group we found a buyer that extols these values and a company having many other synergies with our operations. This compatibility coupled with their financial strength, stability and global reach leads me to the strong belief that they offer an exciting and innovative long-term future for Kestrel’s customers, suppliers and employees. We look forward to working as part of the NCAB Group, to grow the business and meet the needs of our customers in the increasingly demanding marketplace that is PCBs.”