PRP designs and produces custom optoelectronic components used in demanding applications across the aerospace, defence and industrial sectors. Its comprehensive in-house design, development and manufacturing capability makes it the UK market leader.
AIM-listed SDI Group was actively looking to develop its electronics offering, and break into the avionics market.
The skills and expertise of niche UK businesses continue to be in demand from national and international buyers. Watersheds worked closely with PRP to build a succession plan for the business and its team, whilst also identifying technically strong buyers to match the business’ own skillset.
PRP’s shareholders prioritised doing ‘the right thing’ in finding the most suitable buyers to secure the long-term future of the business and its workforce. SDI Group plc presented an ideal opportunity to secure a British-based buyer with a complementary electronics background, able to maintain the established culture and company values.
“It’s a privilege to have worked closely with a fantastic business to deliver an outstanding result for our clients. Our experience in both the electronics, and aerospace and defence sectors proved crucial to a swift, smooth and successful process. We generated numerous offers from cash-rich, listed international and domestic buyers, securing the best value and the right home for the business,” Josh Jones, Partner at Watersheds, explained.
PRP Managing Director Kevin Peart added: “We engaged Watersheds on the basis of the relationship built from the first meeting. We were impressed with the speed at which they found high-quality buyers. Their knowledge of the challenges of the sector and our business, and their dedication to guiding us every step of the way, was instrumental in the success of the process.”