| Date: | September 2021 |
|---|---|
| Project: | Business Sale |
| Sector: | Manufacturing |
| Role: | Lead advisor to the shareholders |
Forward Corporate Finance is delighted to announce the sale of Boddingtons Electrical Limited to global electrical transmission and distribution company, Sicame Group.
Boddingtons began trading in 1999 from a small unit in Great Dunmow and in the decade that followed, the business established itself as one of the leading suppliers of insulated tools to distribution network operators (‘DNOs’) in the UK, manufacturing its branded range of high-quality insulated tooling. Recent developments include manufacturing its own range of insulated tooling for working on electric vehicles, a huge growth area for the business.
Headquartered in France, Sicame Group is a global supplier of electrical transmission and distribution products with turnover of more than £300m. It is the largest independent entity in its sector with 3,100 employees and 50 companies located around the world. The acquisition for Sicame expands their manufacturing capability to insulated tooling and further increases its presence in the UK market.
The deal will see majority shareholder Nick Jordan remaining in his role as Managing Director of Boddingtons and retaining a minority stake going forwards. Shareholder Gill Page will exit her role as Finance Director after a handover period. Founder Robin Boddington, who held a minority stake, is fully exiting.
Forward Corporate Finance advised Boddingtons through the sale process from pre-offer, through a full due diligence process to completion.