Woodford Engineering Limited, the Gloucestershire based precision engineering business, has been acquired by strategic buyer, RDCP Infrastructure in a deal delivered by Swindon-based Corporate Finance advisory firm, Watersheds.
Woodford Engineering is a family-owned firm based in Lydney, Gloucestershire. It has over 40 years’ experience of producing high quality precision engineered parts and fabrications for local, national, and international clients. The Company was formed in 1981 by brothers, Graeme, and Paul Johnson, having inherited the trade from their father, and now employs over 20 craftsmen. One of Woodford’s notable capabilities is in the manufacture of launch and erection equipment used for portable bridges, descended from the Bailey bridge developed during WWII and still used by the military and Governments in disaster relief globally.
RDCP infrastructure is the construction and engineering arm of London-based investment firm RDCP Group. The acquisition allows RDCP Infrastructure to diversify and add market leading precision engineering and metal fabrication facilities, customers, and experienced employees to its customer offering. The division is one of the UK’s leading construction and engineering specialist contractors, delivering innovative solutions to complex construction projects. The acquisition will also provide cross selling opportunities and access to new markets.
As with many family-owned businesses, what was also important to Graeme and Paul was the wellbeing, continuity, and future growth of the business, and security for their loyal staff. The company is a significant local employer. They also wanted a “clean” exit from the business. In the sale to RDCP, Watersheds managed to hit that brief and deliver a value to the shareholders beyond their original expectations.
Sue Green, a director at Watersheds, said given the Company’s history it was essential to find a respectful home for Woodford Engineering. Graeme and Paul will be able to enjoy a clean break from the business knowing it is in safe hands. We acknowledge how difficult it can be for business owners, both emotionally and in terms of demands on their time, to go through the sales process. It was my pleasure to see this transaction complete within 11 months of being engaged, despite the challenges of the pandemic.
Graeme and Paul Johnson said: In RDCP we have chosen a group that appreciates the quality and potential of our workforce and the capacity of our business. We know Woodford will continue to serve its customers well under its new ownership. Watersheds’ ability to introduce credible buyers from different sectors offered us choice, and we appreciate the professional yet sensitive advice that we received throughout the process.
CEO and Founder of RDCP Group, Sameer Rizvi said: Graeme and Paul Johnson have built a fantastic business. It will be business as usual for Woodford Engineering and its loyal workforce. All we want to do is carry on from where the Johnson brothers have left off.”