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FRP Corporate Finance has advised Norwich-based specialist industrial systems integrator Proeon Holdings (Proeon) on its sale to RSK Group (RSK).
Based at the Hethel Engineering Centre on the outskirts of the city, Proeon provides a range of safety, maintenance and cyber security services to the energy, manufacturing, and utility industries worldwide.
The business specialises in the design, manufacture and installation of a range of solutions, including fire detection, risk assessment, machinery safety processes and electrical and telecoms systems.
The sale will enable Proeon to continue to deliver on its growth plans under the continued leadership of its established management team, and provides RSK with an entry into the complex systems integration market.
Cheshire-headquartered RSK is a global leader in the delivery of sustainable solutions, and comprises a group of more than 150 environmental, engineering and technical services businesses.
The FRP team – including Jon Dodge, James Cooper, Cameron Robertson, Ed Jones and Matt Field – acted as lead sell-side advisers.
The team worked with Proeon for approximately five years, to help to scale the business, prepare it for sale and successfully bring the business to market. As a result, the team secured strong investor appetite to achieve a successful deal.
James Cooper, FRP corporate finance director, said: “Proeon is a true pioneer, and plays an important part in supporting industries that are vital to our economy. The Proeon team has first-hand experience of entering new geographic locations and highly regulated industries. With its service offering synergies, RSK is in an excellent position to accelerate Proeon’s growth. We’re delighted to have helped the founders and the team secure a home for the business that can help it to scale in the years ahead.”
