LockDutton Corporate Finance LLP are pleased to announce the sale of Xstrahl group to the management team supported by Risk Capital Partners
May 10, 2018
LDCF acted as the lead adviser to the selling shareholders of Xstrahl. Navigating a complex transaction, LDCF helped achieve the selling shareholders objective of finding a private equity fund to back the management team.
Xstrahl, whose corporate vision is “to help eradicate cancer”, is a leading designer and manufacturer of medical devices in the treatment of cancers and dermatological disorders, as well as a pioneer in the development of advanced X–ray systems for pre-clinical radiation biology research.
For over 15 years, Xstrahl medical systems have reliably supported healthcare professionals and patients in over 500 clinics around the world. The company is headquartered in Britain and has facilities in the US. Exporting to over 25 countries, its customers are mainly hospitals and universities.
Our client, the selling shareholders, led by the group’s Chairman, Martin Robinson, saw the sale of the business as the culmination of his 20 years stewardship of the group. He was keen for his talented management team to have the opportunity to own the business that they had worked in so successfully.
Former Executive Chairman of Xstrahl, Martin Robinson, said
“The whole process, took twelve months from first contact, the writing of the Investment Memorandum, circulation to interested parties and obtaining a realistic price for the business following extensive due diligence by the acquirer’s professional advisors was handled with professionalism and unstinting resources by the LockDutton team”.
The business was acquired by the existing management team who were supported by Risk Capital Partners, co-founded by Luke Johnson, (whose former roles include Chairman of Pizza Express and Chairman of Channel 4 Television Corporation).
LockDutton Corporate Finance LLP partner led team were pleased to have successfully completed another high value transaction, and in this instance, with the added complexity of a multi border transaction
Andrew Lock, Partner of LDCF commented:
"The completion of this transaction represents a great result for all stakeholders. The investment by Risk Capital into Xstrahl represents a significant milestone for the management team to develop the group. This complex deal is one we are very proud of completing, and represents exactly our goal to provide exceptional service through our partner-led approach for business owners. It also underpins LockDutton’s skill in providing expert M&A advice for international, manufacturing businesses but also our extensive network to find the right buyer”.
About LockDutton Corporate Finance LLP
LDCF is an independent firm that provides advice to shareholders seeking to sell their businesses and prides itself on its partner-led approach. The firm works across several industry sectors and has a strong track record in delivering successful exits to business owners utilising an extensive network. LockDutton Corporate Finance typically:
develop the strategy to go to market for a multifaceted, national or international sale;
helped devise the equity story through the careful preparation of an Information Memorandum;
researched numerous and varied prospective buyer group;
help to qualify the potential buyers through initial discussions;
provided significant support during an in-depth financial, commercial and legal due diligence exercise; and
helped unlock critical issues that emerge throughout the entire process.
For further insight regarding this transaction, please contact Andrew Lock or Craig Hewitt-Dutton on 01483 662329
This Document is provided solely for information purposes by LockDutton Corporate Finance LLP (the “Firm”), an Appointed Representative of Capital Systematics Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA). It is not an offer to sell, or an invitation or solicitation of an offer to buy, any security, and does not constitute investment research or contain investment advice. Neither the Firm nor any other party makes any representation or warranty whatsoever as to the accuracy, reliability, or completeness of any of the information contained in the Document, and said information may not be relied upon in connection with any investment decision or otherwise. This Document is directed solely at professional clients and eligible counterparties as defined in the rules of the FCA and may not be copied, reproduced, distributed, disclosed or published, in whole or in part, without prior written consent.