
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 £47.7m.
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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