Legal business DWF Newcastle has advised new company, Hindley Circuits Limited, which is backed by Andrew Lapping of Hamilton Capital Partners, on the acquisition of the assets and business of electronics design and manufacturing company, OPSOL UK Limited ("OPSOL"), via a pre-pack administration.
OPSOL, which is based in Cramlington, Northumberland is a world-class provider of electronics design, manufacture, and outsourcing services to the electronic industry. Established in 2002, the Northumberland-based company was in its 12th year of successive growth and manufactured a wide-range of electronics.
The opportunity for the acquisition arose after OPSOL's parent company, A-BELCO, got into financial difficulties. Following the acquisition, Hindley Circuits will continue to provide electronic manufacturing solutions to a diverse range of customers all over the North of England.
Richard Whitehead, previously General Manager at OPSOL UK, has been appointed as a director of Hindley Circuits Limited and states that his intention is to grow the business and employ at least double the current headcount within the next 3 years.
Investor Andrew Lapping comments: "We were delighted to partner with Richard and his team to provide the necessary funding to make this transition happen. We intend to rapidly expand Hindley Circuits and our strategy is likely to involve an acquisition in the short term. The team at DWF were impressive in their tenacity to see the deal through and came to us with various solutions that saw it across the line.”
The DWF team was led by partner and Head of Corporate in Newcastle, Jeremy Swift, with support from corporate associate Jemil Visram, business restructuring associate Richard Holmes, and corporate solicitor Danielle Kelly.
Jeremy says: “It was a pleasure to see this transaction complete, the team worked hard to achieve a successful result for our client who is now able to progress in the electronics manufacturing industry and develop what is already a successful company. This deal highlights DWF’s ability to seek solutions for clients that enable efficient and quick outcomes as they enhance their businesses.”
DWF’s 180-strong national corporate team has performed strongly over the last 12 months and has been ranked in the top ten for UK M&A legal advisers by deal volume in Experian’s 2016 half-year report while the firm’s North West, East of England and Yorkshire-based corporate teams have all ranked in the top five by deal volume in their respective regions.