Daniamant Limited acquisition of Chemring Group assets from Chemring's McMurdo subsidiary
Client and Buyer:
Based in Denmark, Daniamant ApS became a leader in the development of lifejacket lights and marine emergency lighting systems. In 2005 the business was acquired by Arne Gillin together with Dansk Generationsskifte Kapital. Our Danish Partner represented Daniamant in a search for strategic acquisitions.
Seller: Chemring Group
Chemring Group PLC supplies countermeasures, sensors, and energetic solutions to aerospace, defense, and security industries in the United States, the United Kingdom, Norway, Australia, and internationally. The company operates through two segments, Sensors & Information and Countermeasures & Energetics. Chemring is a public company trading on the London Stock Exchange (CHG.L). In this transaction Chemring divested their Survivor Location Lights division from their wholly-owned subsidiary, McMurdo Ltd.
ACS has historically represented European Companies, mostly UK based, who were interested in expanding their operations into North America. As a result of our strategic advisory work for Chemring we learned that they would be interested in divesting the McMurdo Marine Lights division. We offered to broker the deal between Daniamant Limited and Chemring, made the introduction and made friends on all sides of the deal.
Broker/Dealer: Glocap Advisors
Completion: November 2006