Left to right: Charlotte Mills (Bermans), Carl Eastham, Dr Colin Smith, Andy Robinson (all IPEC), Natasha Milward (DJH), Saj Mynampati (IPEC) and Lewis Pearson (DJH) A leading North West accounting and professional services group has completed its involvement in a high-profile cross-border deal, which has seen
IPEC Ltd become part of a world leader in electrification and automation.
DJH, which is based on Peter Street in Manchester, has provided corporate finance support and complex tax structuring advice to the owners of the Stockport-based firm during its sale to ABB.
The transaction was completed yesterday, with the advanced 24/7 partial discharging experts becoming part of the multinational’s electrification service organisation. Together it will deliver smarter, more predictive maintenance solutions, helping customers in industries such as power distribution networks, renewable energy, and data centres run at high performance, while becoming more efficient, productive and sustainable.
Natasha Millward, client services director at DJH in Manchester, said: “This is an excellent moment for DJH and highlights our growing experience in the technology space. We have supported IPEC on its growth ambitions for the last 18 months, providing essential advice on day-to-day considerations throughout the negotiations. This deal gives the management team the opportunity to broaden its international presence and expand even quicker with the backing of a blue-chip brand like ABB. The sale will undoubtedly help accelerate the company’s recruitment plans across the North West.”
She continued: “For us, it shows how DJH can understand the bespoke requirements of firms involved in technology and manufacturing, overcoming complex tax structures and international regulations to arrive at a transaction that really works for both parties, not to mention the industries they both serve.”
Global footprintIPEC Ltd, which was founded out of Manchester University by Dr Colin Smith, currently employs over 70 people across its headquarters in Stockport, as well as operations in Europe, the Middle East and the USA. The company has expanded from its domestic utility base clients to serve customers globally, with its innovative partial discharge testing and monitoring products helping to protect heavy industry, technology businesses and major infrastructure projects.
Dr Smith said: “This transaction has been in the making for more than two years, so we are delighted to officially sign the contract and become part of ABB, one of the world’s most respected names in electrification. It wouldn’t have been possible without the outstanding support of the team at DJH, who has worked tirelessly to support a structured and ambitious route to sale. Natasha, alongside Lewis Pearson, Heeral Ruparelia and Connor Smith, understood IPEC’s core values and their expertise and experience have been invaluable.”
Legal advice to shareholders of IPEC was provided by Charlotte Mills and Faizan Nayyar in the corporate team at North West firm Bermans. Charlotte, a partner based in Bermans’ Manchester office, said: “The sale to ABB is testament to the successful business that Colin Smith and the team at IPEC have built. It has been a genuine pleasure to support them on this journey, and we wish continued success to them and all those involved in IPEC’s future.”