Quadrant produces cable assemblies, harnesses and panels for many blue-chip companies in the telecoms, instrumentation, broadcast and defence sectors. Clients include Ericsson, Nokia Siemens Networks, RS Components, to name just a few. With a turnover in excess of EUR 25 million (GBP 16.5 million), its Radlett head office employs 130 staff. The MBI will allow Anthony Sheridan, the company’s founder, to sell the business as a going concern, and retire after 27 years at the helm. He will continue to provide on-going support to the company after the business has transitioned to the new management team.
Watersheds’ client, David Miller, is leading the MBI team and has over 24 years’ experience in the industry; he will take over as Chairman and MD at Quadrant.
Commenting on the deal Watersheds’ Director, Sue Green says, “We had to put together a creative package to make this deal happen. Quadrant is a company with a long family history and an international, particularly European, reputation for the highest quality in its manufactured products.
It was important that the company maintained its independence to ensure that standards and key business relationships, built up over the years, can continue. Our role in putting together a successful deal is often matching the right people with the right company and this was very much the case for Quadrant.”
David Miller commented, “Quadrant is a company with fantastic potential and we will be looking to expand into new markets. It already has offshore manufacturing sites in Czech Republic and Romania, as well as shareholdings in associated companies in China and the USA. We are committed to strengthening the group as a whole, and to retaining the headquarters and core manufacturing base in Radlett. Key relationships with German principals, particularly Telegaertner, will be maintained and further developed.”
Commenting on working with Watersheds, David continues, “I had been looking for an opportunity like this for a while. Watersheds has done well to broker a complex deal which is sympathetic to company’s founder, Anthony Sheridan’s wishes. In the course of a long and complex process, my team and I have been impressed by the breadth of skills, the constructive thought process and sheer hard work that Watersheds brought to this deal.”