Lonsdale acquires Elite Electronic Services

With support from Lonsdale, the company intends to build on its core business, which is based in Eire and Northern Ireland, and expand more broadly into the UK. It also aims to expand internationally via organic growth and value-adding bolt-on acquisitions. 

The deal marks the sixth investment for Lonsdale since closing its first institutional fund, alongside 10 bolt-on acquisitions. The vehicle held a final close on its hard-cap of £110m in April 2016.

Lonsdale has invested on a deal-by-deal basis since 2008, but raised a closed-ended fund on investor demand.

Company
Elite Electronic Services was founded in 1986 and is headquartered in Enniskillen. It manufactures specialised products including defibrillators, secure telecoms systems used by government bodies, and athlete tracking devices. The firm reported revenues of £22m in its previous financial year and employs a staff of 215.

People
Lonsdale Capital Partners – Andrew Chetwood (director).
Elite Electronic Services – Jonathan Balfour (managing director).

Advisers
Equity – KPMG Ireland (financial due diligence, tax); CMS Cameron McKenna Olswang Nabarro (legal); CIL (commercial due diligence); BDO (tax).
Vendor – La Salle Corporate (corporate due diligence); PKF-FPM (financial due diligence); Tughans (legal).

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• Buyouts
• UK / Ireland
• Industrials
• Ireland
• Lonsdale Capital Partners