French group Upergy acquires UK battery manufacturer Hawk Woods
French group UPERGY has announced that it has completed the acquisition of 100% of the capital of UK company Hawk-Woods, which specialises in manufacturing advanced battery systems for the global film and television industry.
Headquartered in Ashford, Kent, Hawk-Woods has nearly 30 years of expertise in the design and development of innovative power distribution solutions and products, specifically tailored to the needs of camera, sound and lighting equipment customers working in the media and entertainment industries.
Hawk-Woods currently employs some 20 people and is expected to generate sales of more than £2.5 million (€ 2.8 million) in the year to March 31, 2019 – a growth rate of more than 35%, of which more than a third was exported to 13 countries. The company is very profitable, with an operating margin of around 40%, thanks to its positioning with very high added value.
This acquisition is in line with UPERGY'S 2023 strategic plan, which aims to strengthen UPERGY's international positions in high value B2B segments. Hawk-Woods will benefit from synergistic contributions from UPERGY to actively pursue its international expansion.
The acquisition will be made entirely in cash, with payments spread over the next two years. The two founders have committed to continue the development of Hawk Woods for a period of two years. Price supplements are also planned based on the performances achieved over the next two years. Hawk Woods will be consolidated as of February 1, 2019.
The Hawk Woods shareholders were advised by BCMS, with legal advice from Pennington Manches.
BCMS Lead Advisor Scott Jones commented: "Hawk Woods have a great reputation as a trusted supplier to the global creative media industries, so we managed to generate significant market interest. However, the fit with UPERGY proved compelling for both parties, and we are delighted to have been able to assist the Hawk Woods shareholders."