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Sepura PLC T
Oakley advises on digital radio acquisition
Completed Transactions - Completed Transactions -
Sector:
Technology
Transaction Type:
Acquisition, ECM
Date:
May 2012
Deal Value:
Up to £13m

Oakley advised Sepura plc on its acquisition of 3T Communications AG, a supplier of TETRA infrastructure. The acquisition combines Sepura’s market leading radio portfolio with 3T’s comprehensive infrastructure offering enables customers to procure an entire critical communications solution from a single supplier.Oakley Capital Corporate Finance (”Oakley”) has advised corporate client Sepura plc (“Sepura”; “the Company”), a global leader in the design, development and supply of TETRA digital radios, on its acquisition of 3T Communications AG (“3T”), a supplier of TETRA infrastructure. Under the deal, Sepura is paying an initial cash consideration of €8 million, with further contingent consideration of up to €5 million payable, dependent on 3T achieving cash EBITDA targets over an earn-out period. The acquisition combines Sepura’s market leading radio portfolio with 3T’s comprehensive infrastructure offering and enables customers to procure an end-to-end critical communications solution from a single supplier. The acquisition is expected to be earnings enhancing to Sepura for the current financial year and beyond. Oakley provides both Corporate Broking and M&A services to Sepura.

Oakley worked with Cambridge-based Sepura from the outset as it assessed various TETRAinfrastructure providers around Europe as potential acquisition targets. 3T designs and implements small to mid size TETRA systems predominantly for the commercial sector, including enterprise customers such as Shell, RWE, Bayer and BMW. The commercial segment is the fastest growing within the worldwide TETRA market as it develops beyond its public safety origins.

Chris Godsmark, Joint Managing Partner of Oakley said,

“We have built a close relationship with Sepura and were pleased to have been involved in the planning and execution of this deal, which is central to the Company’s expansion in the large but fragmented corporate digital radio market.”

For further information please contact:
Chris Godsmark, Partner
+44 207 766 6900

*Completed by Oakley Capital Corporate Finance

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