Celab Limited divested their shares in an all cash deal to C&D Technologies
Celab, a provider of power conversion products, predominantly sold into military, cable TV and telecom applications is based in Bordon, Hampshire. Notwithstanding its UK based European operations, Celab takes the C&D Power Electronics Division into the military market place, worldwide. The $15m transaction was announced together with C&D’s acquisition of Datel, based in Massachusetts, which also will sit in the Power Electronics Division.
Barry Wood, chairman of Celab said, “Our exit considerations were largely driven by my own retirement and succession but as a group of shareholders we wanted to ensure we identified a strategic purchaser that would take the company forward without affecting its very high reputation in its market. Meta approached purchasers in both Europe and the USA. C&D came forward as a strategic purchaser seeking a foothold in the military marketplace.”
John Velker, C&D’s corporate services director said, “Cross-border transactions are difficult enough so it was good to have Meta as a focal point for communication and negotiation. We are very happy to have completed this deal.”