“We’d been working with John over a long period of time, looking at strategy and planning for the future. This included the transaction that brought Holloway Controls into the Group to secure direct access to key technology that makes our systems work.
We then started thinking about succession, bringing a fresh new management team into the business and, with John’s input, looking at how to incentivise them appropriately. At this time, we had the approach from SG which seemed to tick the boxes in terms of providing an exit for shareholders, an opportunity to re-invest and an exciting and rewarding future for the management team.
However, dealing with a Swedish Investment House in a multi-layered deal was always going to have some complexity. John’s involvement proved valuable in terms of helping us understand the transaction, prepare the deal structure, negotiate with SG and, essentially, get a deal we were all very happy with.
Chris Unwin – CEO LAC Conveyors and Automation
LAC Conveyors and Automation and Holloway Controls were acquired by the MotionTech Group (established by Systematic Growth).
LAC Conveyors & Automation specialises in the designing, manufacturing, and installation of automation solutions across various industries. The rapid growth of LAC over the last 5 years places them as one of the UK’s leading system integrators to well-known global brands. Holloway Control Systems is known for its expertise in developing advanced control and software systems.
MotionTech was established by Systematic Growth in 2021, with a clear strategy to become a full solutions and service partner to customers within intralogistics and warehouse automation. MotionTech is continuing to build its position across Europe organically and through acquiring niche leading companies with strong management and owners.
Skye Corporate Finance was initially appointed to advise on the acquisition of Holloway Controls. Following the approach from SG, Skye’s role was to help the shareholders and management of LAC Conveyors and Automation and Holloway Controls to assess the offer, assist in the negotiation of Heads of Terms and provide support throughout the deal process to completion.