Benchmark International is delighted to announce the sale of leading variable speed drive and control systems integrator, Oracle Drive Systems, to Veruth Holdings, owner of Europa Components plc and other companies, through sell-side advisers Benchmark International and Primas.
Veruth, a second-generation family holding company, has a policy of long-term development and growth for the companies it is involved with. It is delighted that John Mullins, founder of Oracle, is remaining as Sales Director.
Oracle will continue to build on its 16 years of experience and expertise with many blue-chip companies now with the backing to expand. Already in the last month new offices have been opened in Billingham in the North East of England, adding to the Batley unit in West Yorkshire, as well as taking on more project engineers and support staff to handle the new work the company is being awarded.
David Sheridan, Chairman of Veruth, said: “We see in Oracle and John Mullins a very successful business with a reputation of giving its clients the highest service and we are delighted to now be working with John to take the company further forward.”
John Mullins said: “In Veruth we have found a partner with similar attitudes to us and with a long track record of taking companies successfully forward. This will be of great benefit to our customers, staff and Oracle Drive Systems.”
Alex Forshaw, Associate Director at Benchmark International, commented: “Benchmark International project managed this deal through to completion, negotiating all aspects of the transaction which ultimately secured the right deal for John. It was a pleasure working with him and I’m pleased to have reached a conclusion that has enabled him to de-risk, as well as providing the company with a strategic partner in which to take the company through its next stages of growth.”
On behalf of everyone at Benchmark International, we would like to wish both parties the very best for the future.
WE ARE READY WHEN YOU ARE
Call Benchmark International today if you are interested in an exit or growth strategy or if you are interested in acquiring.
Europe: Michael Lawrie at +44 (0) 161 359 4400 / Enquiries@BenchmarkIntl.com
Americas: Sam Smoot at +1 813 898 2350 / Smoot@BenchmarkIntl.com
Africa: Anthony McCardle at +27 (0) 21 300 2055 / McCardle@BenchmarkIntl.com
ABOUT BENCHMARK INTERNATIONAL
Benchmark International’s global offices provide business owners in the middle market and lower middle market with creative, value-maximising solutions for growing and exiting their businesses. To date, Benchmark International has handled engagements in excess of $6B across 30 industries worldwide. With decades of global M&A experience, Benchmark International’s deal teams, working from 13 offices across the world, have assisted hundreds of owners with achieving their personal objectives and ensuring the continued growth of their businesses.