EMK acquires majority stake in WAE
EMK Capital has acquired a majority stake in Williams Advanced Engineering (WAE), a UK-based technology and engineering company, from local parent Williams Grand Prix Holdings for an approximate consideration of ТЃ47.7m.
Williams will retain its significant minority stake in WAE.
EMK intends to invest in the company's long-term growth, including the commercialisation of various technology opportunities.
Company
Founded in 2010 and headquartered in Wantage, WAE is a technology company providing engineering, testing and manufacturing services. It has a workforce of 300 employees involved in 40 projects across the automotive, motorsport, aerospace, marine, defence and healthcare sectors. WAE reported revenues of £44.4m, operating loss of £560,000, and estimated EBITDA of £148,000 in 2018.
People
Williams Grand Prix Holdings – Mike O'Driscoll (CEO).
Williams Advanced Engineering – Craig Wilson (managing director).
EMK Capital – Edmund Lazarus (managing partner).
Advisers
Company – Lazard (corporate finance).
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