Advising on the sale of Xi-Tech Limited

Smith & Williamson advises Xi-Tech Limited (“Sens-Tech”) on its sale to discoverIE Group plc (“discoverIE Group plc”)

Published: Thu, 17 Oct 2019 12:42 GMT

Sens-Tech is a global leader in the development, manufacture and supply of specialist X-ray detection subassemblies and photodetector modules for imaging systems. Its technologies are deployed in industries that tend to be characterised by regulation and stringent operating requirements such as the medical, security and food industries.

Smith & Williamson worked with the owner of Sens-Tech to conduct an international search for a strategic partner to support the company’s continuing growth and to strengthen Sens-Tech’s position as a leader in sensor technology.

discoverIE Group plc is an international group of businesses that design, manufacture and supply innovative components for electronic applications. This acquisition helps support its continued growth, expanding the Group’s international footprint, and further reinforce the in-house design and engineering capability it’s able to bring to bear for its clients.

Brian Livingston, Head of M&A for Smith & Williamson, led the transaction assisted by Stuart Goodman.
The owner of Sens-Tech said “I was very impressed by Brian and the Smith & Williamson team, who provided considered advice and support throughout a complex transaction with a number of challenging elements. The team were always available, helping me to prepare for the process and providing balanced and calm advice. Their understanding and experience of partnering with owner-managers on international processes was invaluable and I am grateful they were on hand to expertly guide me through to completion.”

Brian Livingston, Head of M&A for Smith & Williamson, said “I have worked with the owner for a number of years advising him on the initial management buyout. It is really satisfying to see how the team have successfully grown Sens-Tech to become an international success. We are very proud to have been a part of this journey with him and to have delivered a successful transaction with the right strategic partner, who shares the same vision and aspirations for the business as he does. This deal reinforces our strong track record of successful transaction delivery in the wider manufacturing and technology sectors.“

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. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication.

Notes to editors

Notes to editors
Smith & Williamson is a leading financial and professional services firm providing a comprehensive range of investment management, tax, financial advisory and accountancy services to private clients and their business interests. The firm’s c1,800 people operate from a network of 11 offices: London, Belfast, Birmingham, Bristol, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton. Smith & Williamson is part of The Tilney Smith & Williamson Group.