TMD Holdings Limited

Smith & Williamson advises TMD Holdings Limited on its sale to Communications & Power Industries

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Published: 08 Jul 2021 Updated: 13 Apr 2022

Smith & Williamson advises TMD Holdings Limited on its sale to Communications & Power Industries

TMD Holdings Limited (“TMD”) is a world-leading designer and manufacturer of technologically advanced microwave, radio frequency and high voltage equipment for radar, electronic warfare, communications, medical, EMC testing and scientific applications.

Smith & Williamson worked with the shareholders of TMD to deliver a successful sale to Communications & Power Industries (“CPI”). CPI is a global manufacturer of electronic components and subsystems focused primarily on communications and defence markets. TMD brings new products and technological capabilities to CPI’s established portfolio of electronic components and subsystems.

Amanda Phillips, Director at Smith & Williamson, led the transaction supported by Joseph Sherry and Zach Francis, with further support from Oaklins’ Aerospace and Defence experts Stephen Perry and Jason Kimball. Amanda Phillips said “the shareholders of TMD were keen to find the right partner for the business to support the next phase of its growth and development. The addition of TMD to CPI will provide customers broader capabilities and more comprehensive solutions for radar, electronic warfare, communications, EMC testing and related applications.”

Peter Butcher and Howard Smith, joint shareholders of TMD said “appointing the Smith & Williamson and Oaklins team was crucial in running an international process. The hands-on approach and deal experience was key to overcoming challenges during the process and the team always went the extra mile to help us achieve our objectives. The shareholders are very pleased with the outcome and wish the parties well for the future”.

For further information please contact:

Amanda Phillips
Corporate Finance Director
M: + 44 (0)7455 838335

By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.

Note to editors
Smith & Williamson is an independently owned professional and financial services group with over 1,700 people. The group is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-to-large corporates. The group has eleven offices; these are in London, Belfast, Birmingham, Bristol, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton.

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This article was previously published on Smith & Williamson prior to the launch of Evelyn Partners.