Signum Technology acquired by Swedish group Trelleborg
Swedish-owned global industrial business Trelleborg has acquired Signum Technology Ltd in Great Yarmouth for an undisclosed sum.
Trelleborg is a world leader in engineered polymer solutions that seal, damp and protect critical applications in demanding environments.
Signum delivers safety critical solutions for flow control for the oil, gas and petrochemicals industries, such as marine breakaway couplings and LNG transfer systems. It has some 160 employees.
The deal complements and extends Trelleborg’s product portfolio and strengthens its armoury as a system provider, primarily to the fast-growing LNG transfer market segment.
Sales totalled around £35 million in 2018. This bolt-on acquisition is part of Trelleborg’s strategy to strengthen its positions in attractive market segments.
KPMG in the East of England acted as lead financial adviser in the deal as well as providing financial due diligence, tax and debt advisory services to Phoenix Equity Partners on its sale of Signum to Trelleborg.
Jean-Paul Mindermann, president of the Trelleborg Industrial Solutions business area, said: “Combined, we are creating a very attractive offering of integrated packages and safety critical systems for both LNG ship-to-ship and ship-to-shore transfer in demanding industries.
“Signum has a reputation for quality and innovation, very much like Trelleborg. This acquisition will also further strengthen our geographic coverage notably in the aftermarket and service business, hence a really good fit for us in many aspects.”
Chris Wilson corporate finance director at KPMG’s East Anglian practice said: “This has been a great deal for all involved and, in particular, is a fantastic boost to a large and important employer in the East of England and will help the business as it moves forward with its growth strategy.
“The deal is also reflective of the increasing global demand for innovative energy solutions – with businesses like Signum Technology and its LNG transfer system at the forefront.
“This is the second deal in as many weeks that we have completed in the Great Yarmouth area, having also advised the directors of GEV and Maven Capital Partners on the sale of the business to Bridges Fund Management, and we look forward to a number of further completions over the coming months.”