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Azets has advised Heysham-based Forsberg Services Ltd, a provider of precision technologies for defence and civilian use, on its acquisition by Teleplan Globe AS, a provider of software solutions for mission-critical systems.
Operating for over 35 years with customers in the UK and internationally, Forsberg Services Ltd is renowned for its depth of PNT (positioning, navigation and timing) knowledge. Teleplan Globe AS provides mission critical software and system solutions for decision makers that protect people, assets, and institutions.
The deal sees Teleplan Globe AS acquire the parent company of Forsberg Services Ltd, Forsberg Holdings Limited, for an undisclosed sum.
Commenting on the acquisition, Chris Mayne, managing director at Forsberg Services Ltd said: “As a team, we’re delighted to have reached a deal with Teleplan Globe AS which helps secure an exciting future for the business and its employees that aligns with our core values.
“Having worked together for a number of years, we have cultivated a close and strategic partnership with Teleplan Globe, resulting in the creation of truly innovative solutions. It is clear that the acquisition of Forsberg Services Ltd will further strengthen Teleplan Globe AS’s capabilities to benefit both existing and new customers, as well as a significant broadening of service offering for Forsberg’s existing customers.”
The Azets’ Corporate Finance and Tax teams were led by David Simmons and Jenny Pape respectively.
Simmons, Corporate Finance partner at Azets in Manchester, added: “It’s been a pleasure to act on behalf of Chris and the team at Forsberg Services Ltd to agree a deal to secure an ambitious future for the company. We wish the teams all the best and look forward to seeing their success.”
Charles Forsberg, the founder and majority shareholder of Forsberg, will continue to support the company as an advisor. Mayne will remain as the managing director and key management will stay as significant minority shareholders.
