The Bolton office of Cowgill Holloway and the Growing Business team at Cobbetts have advised Chorley-based Scorpion Electro Systems Limited on its acquisition of a trio of complementary businesses.
Scorpion, which designs and manufactures vehicle security products, has paid £1.67m to buy Sigma, Toad Security and Soundlinx from AIM-listed TG21 plc, the UK’s provider of security solutions to the automotive, public transport and insurance markets.
A worldwide brand, Scorpion is renowned for its focus on research and development. Since being taken over in January 2005 by current managing director, Mark Downing, the company has more than doubled in size and now boasts contracts with market-leading firms, including Renault, Mitsubishi and Leyland Trucks.
Cowgill Holloway partner, John Marshall, said: “The purchases of Sigma, Toad Security and Soundlinx are excellent additions to Scorpion Electro Systems’ business portfolio, which will help to diversify the business’s services.”
Ian Riggs, corporate partner in Cobbetts’ Growing Business team, said: “These strategic acquisitions will allow Scorpion to build on its impressive track record and increase market share in a highly competitive sector.”
Funding for the deal was provided by HSBC in Preston.
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