Celab

Meta advises Celab shareholders on sale to C&D Technologies

Today it is announced that the shareholders of Celab Limited have sold their shares in an all cash deal to C&D Technologies, based in Pennsylvania.

Celab, a provider of power conversion products, predominantly sold into military, cable TV and telecom applications is based in Bordon, Hampshire. Notwithstanding its UK based European operations, Celab takes the C&D Power Electronics Division into the military market place, worldwide. The $15m transaction was announced together with C&D’s acquisition of Datel, based in Massachusetts, which also will sit in the Power Electronics Division.

Barry Wood, Chairman of Celab said: "Our exit considerations were largely driven by my own retirement and succession but as a group of shareholders we wanted to ensure we identified a strategic purchaser that would take the company forward without affecting its very high reputation in its market. Meta approached purchasers in both Europe and the USA. C&D came forward as a strategic purchaser seeking a foothold in the military market place."

John Velker, C&D’s Corporate Services Director said "Cross-border transactions are difficult enough so it was good to have Meta as a focal point for communication and negotiation. We are very happy to have completed this deal."

Advisor: Mark Ledger-Beadell, Meta Corporate Finance

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