Azets corporate finance team has advised on the sale of Esotec Limited to ADT Fire and Security Group Plc – a subsidiary of Johnson Controls International Plc, for an undisclosed amount.
Esotec is a systems integrator of full-lifecycle security solutions. Its services include the design, installation and support of advanced surveillance and security capabilities.
Esotec employs 32 members of staff from its main site in Didcot, Oxfordshire. The former shareholders, Andy Durham and Dave Oliver, will both continue to manage the business on an ongoing basis with the support of their existing engineering and delivery team.
ADT Fire and Security provides installation, rental, maintenance and monitoring of electronic security systems and associated building management systems for both commercial and residential applications.
ADT Fire and Security is a subsidiary of Johnson Controls International Plc, a US company listed on the New York Stock Exchange with annual sales in excess of $22bn (£16bn).
To help with the sale, Azets was supported by law firm Blake Morgan. Rob Holmes partner at Azets’ corporate finance team and Simon Allen an executive at the firm advised the shareholders of Esotec.
Rob Holmes said: “The M&A market remains buoyant and this transaction underlines that there continues to be an appetite for high quality assets, particularly those operating in defensible markets with recurring or contracted revenues.
“We are delighted to have assisted the shareholders with this sale and are sure that the business will go from strength to strength.”