Engineering firm NDT Equipment Supplies Limited has been acquired by new owners Richard Preston and Peter Dodd, with the assistance of Swindon-based corporate finance specialists Watersheds.
Trading since 1990, the company has extensive experience in supplying equipment for specialist non-destructive testing and inspection techniques, such as X-rays, gamma rays, ultrasonic, eddy current and magnetic particle.
The acquisition, allows founders husband and wife team Anna and Ken Brimfield to enjoy a phased retirement, continuing work but not having the responsibility of running the business.
They can enjoy the fruits of their labours, whilst securing a future for the staff and looking after customers and suppliers.
Richard and Peter came to Watersheds to assist them with a purchase of an engineering business they had identified, however it became clear that this company was not right for them.
They wanted a stable business that has a good reputation for delivering quality service, yet still has the potential to grow. A family run business was ideal and NDT ticked all the boxes.
NDT, based in Wellinborough, was introduced to Watersheds by its accountants, following successful completion of a deal for another client.
The process was quick, taking just 10 weeks from introducing Peter and Richard to the Brimfields right through to completion. Confidentiality was maintained throughout the process, one of the merits of personal introductions.
William Senior, Associate at Watersheds, said: “We looked at several opportunities with Richard and Peter and are pleased to have found NDT. It was clear from the initial meeting that Richard and Peter and the Brimfields had great rapport and respect for each other, which is important when buying family businesses.”
Peter Dodd said” “Richard and I wanted to run our own business. I am delighted. Watersheds work on a contingent fee basis. This was essential for us in realising our dream.”
Legal advice was provided by DFA Law solicitors.