Shaw & Co advises on the sale of Fundamentals HV services division to Freedom (an NG Bailey company)
Shaw & Co, the specialist corporate finance advisory firm is pleased to announce that it has helped existing client, Swindon-based Fundamentals Limited (Fundamentals), to sell its HV Services division to Freedom (an NG Bailey company).
The deal will allow Fundamentals to focus resources on its core power systems technologies, including market-leading Automatic Voltage Control (AVC), Low Voltage Regulator (LVR), and cable fault detection and monitoring products.
The move will also enable Fundamentals to further develop its specialist engineering teams, engaged in product development and roll out, system integration, installation and support. These include a dedicated AVC Turnkey team, with the ability to deliver tailored voltage control packages, from system design and specification, through to commissioning and testing.
Leading the deal, Shaw & Co Director Myles Hamilton said: “The HV Services business has an excellent new home as part of Freedom and it was great to have been able to bring together the parties to this transaction and help strike a deal that met their objectives.”
Fundamentals Managing Director Dr Jon Hiscock said: “The sale of HV Services to Freedom is part of our growth strategy as an international power system technology business, delivering innovative solutions which improve the health and performance of the grid.
“By contrast, our 12-member HV Services team are experts in maintenance, with over 40 years’ experience working on mission critical assets across the entire voltage range. Their skills, knowledge and experience complement Freedom and ensure a good future for them as part of the UK’s largest independent engineering, facilities and infrastructure services business.”
The sale will not affect Fundamentals’ dedicated engineering and spares support for legacy Tapchangers, through its wholly owned Ferranti Tapchangers operation. Supported brands include AEI, GEC, English Electric and Metropolitan Vickers.