The Corporate Finance team at CP have supported the Board and Directors of Carter Group on the sale of its specialist refrigerant gas leak detection division, CPC (UK) to Safe Monitoring Group AB, headquartered in Vellinge, Sweden.
CPC (UK) is an innovative design, manufacturer and service provider for refrigerant gas detectors in the UK, part of the Carter Group which has an 80-year history. It’s perhaps best known for its work with supermarket refrigeration and building services. CPC (UK) was founded in 1989 as a division of Carter Synergy Limited. It’s the largest provider of specialist leak detection equipment for UK supermarkets. In recent years it expanded into other refrigerant gas leak detection markets both in the UK and overseas. As part of the sale the whole CPC (UK) business was hived down into a separate company. Safe Monitoring Group AB have acquired 100% of the share capital of the business.
CP’s Corporate Finance team led by Andy Parker supported the Carter Group’s Board and CPC (UK)’s management to secure this significant deal that will allow the business to be part of a group of companies that are all focussed on a global offering of technology-driven gas detection. The management of CPC (UK) will remain in place and continue leading the company.
Chris Hufflett, Group CEO of Carter Thermal Industries Group said:
“We are proud of CPC’s growth and accomplishments under the Carter Group’s ownership and we believe Safe Monitoring Group is the right partner to take CPC into its next phase of growth, offering expanded capabilities and international reach. Carter Synergy has also agreed a long-term partnership agreement with CPC(UK) and SMG to continue to sell and promote all their products in the UK and overseas and all customers will experience a seamless transfer.”
Andy Parker, CP’s Head of Corporate Finance said:
“We’re delighted to have supported the Board and Directors of CPC (UK). Having worked closely together to develop best-in-class products for over 30 years the company was a perfect fit for Safe Monitoring Group which is continuing to expand into new geographies and applications through organic growth and an ambitious acquisition agenda.”
Carter Group was supported by:
- Cooper Parry Corporate Finance – Lead Advisory (Andy Parker, Alex Ydlibi & Loren Docksey)
- Gowling – Legals (Chris Towle, Owen Shave, Andreea Serban & Chloe Collins)
- MHA – Transaction tax (Beverley Scott)
Safe Monitoring Group was supported by:
- White & Case – Legals
- Deloitte – Financial & tax due diligence
