Seaward goes forward with acquisition
Michael Smith and Mike Russell of Tait Walker Corporate Finance Tees Valley advised the management of the Peterlee based Seaward group, in relation to its acquisition of Croydon based Cropico Limited in February 2006 for an undisclosed sum.
Established in 1982, Seaward manufactures a range of test equipment used by electrical contractors, service engineers, quality control and safety managers for the testing of electrical equipment and appliances. Each Group company is claimed to be a market leader in its own sector
The acquisition of Cropico, a long-established supplier of electrical, scientific and quality control measurement equipment to the aerospace, pharmaceuticals, railway, automotive and utilities sectors, offers Seaward strong product and market synergies and reinforces the group's technical expertise in test and measurement
After working with Tait Walker Corporate Finance on the acquisition of Cropico, the Directors of Seaward have retained Tait Walker Tees Valley as auditors to the Seaward group.