Disposal of Rochford Thompson Equipment Ltd to 3M
- Biometric Security - Software/Hardware
- Company Sale
- Undisclosed
Momentum Corporate Finance acted as lead adviser on the cross border disposal of Rochford Thompson Ltd to US-based 3M.
The shareholder appointed Momentum to identify strategic acquirers who would have an interest in the business and conduct an international auction process.
Momentum's extensive experience of running cross border transactions and its ability to maintain a high degree of competitive tension throughout the process led to a result which significantly exceeded the shareholders' expectations.
Rochford Thompson Equipment Ltd is a market leading provider of security document scanning solutions. These comprehensive solutions include both software and hardware and are currently focused on the passport scanning and border control market. The business is based in Newbury, UK.
Some key deal features
- The international nature of the activities of Rochford Thompson meant the business was likely to be of interest to acquirers from a number of countries.
- The Momentum team's extensive experience of identifying and dealing with foreign purchasers was key to delivering the best outcome for shareholders.
- Momentum ran a tightly controlled global auction which allowed the shareholders - its management team and the venture capital investors 3i - to realise the full value of this international business.
- "Momentum delivered an excellent result for our team. The personal involvement of the partners throughout the entire transaction was a key factor in securing the deal - and was exactly as had been promised by Momentum at our first meeting. Rob and Tony's personal knowledge and experience of identifying and dealing with foreign bidders was an essential ingredient in the sale process. The entire team at Momentum did a superb job."
- Chris Scorey, Managing Director, Rochford Thompson
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