Latest deals in Wales turning the wheels of job creation
Here are the latest business deals in Wales including acquisitions, management buyouts and fundraising to support expansion and new job creation
GUARDIAN GLOBAL TECHNOLOGIES
PYLE-based Guardian Global Technologies, whose technology is used by oil and gas operators to bring wells into production, has been acquired by an American and Dutch oil services giant in a move that will fuel its expansion
The deal, the value of which has not been disclosed, has seen the business acquired by Core Laboratories, which provides analysis, measurement and engineering services to the world’s major oil companies. The deal will result in immediate investment to increase production at the Pyle site.
For the past 20 years Guardian, which employs 65, has developed technology for the global oil and gas industry. With a presence in more than countries, the deal opens up significant new opportunities for Core Laboratories for products designed and manufactured by the Pyle business.
Guardian’s technology helps oil and gas service companies to deploy explosives in wells safely and accurately,
Its chief, Emyr-Wyn Francis, will continue in his role.
Welcoming the sale, Mr Francis said: “This is such an exciting development for Guardian Global Technologies. We have been producing cutting-edge and world-leading perforating equipment for the oil and gas sector from our south Wales base for two decades and today’s announcement offers the company the opportunity for expansion and growth. The fact that a key product within the global oil and gas industry can continue to be developed and manufactured in Wales is good news for Guardian and is good news for the south Wales manufacturing base as a whole.”
Over the past decade Guardian has received financial support in the form of job creation grants and loans from the Welsh Government and the Development Bank of Wales.
Its founder and chief technology officer Iain Maxted said: “I’m delighted that a company of the size and sophistication of Core Lab has seen the value in a business founded and grown in Wales. From our humble beginnings in a tin shed to being part of a billion-dollar multinational just goes to show that when we put our minds to it, Wales can be the best in the world.”
All staff in Guardian have shared in a bonus dividend from the acquisition.
ACUITY LEGAL
EXPANDING Cardiff firm Acuity Legal has acquired its second London-based law firm this year.
The deal sees it merging with NewLawsLegal, a specialist in corporate transactions, commercial projects, real estate and dispute resolution.
NewLawsLegal was established in 2010 by Tessa Laws, who now joins Acuity Legal as a senior partner. A further six lawyers, including corporate finance, disputes and real estate specialists, will join Acuity and operate out of its new office in Ganton Street.
The deal comes hot on the heels of Acuity’s acquisition of boutique London practice Maple & Black earlier this year, and brings the firm’s headcount to over 85 lawyers and support staff.
Acuity has doubled in size in recent years and last year advised on over 100 UK-based transactions with an aggregate value of over £1.5bn.
The commercial law firm’s offer includes an outsourcing model for virtual in-house legal support and a technology-based service for data protection, cyber security and reputation management. Its client base ranges from early-stage technology businesses through to FTSE 100 listed companies. As well as supporting the firm’s UK-based portfolio of clients, recent deals have involved international and cross-border transactions in Germany, North America and China.
The deal was led by Steve Berry, Acuity Legal’s chairman, and Edward Finley, who heads up Acuity’s team in London.
Mr Berry said: “Significant growth over the last few years has given us a solid platform for future expansion. With an enviable client portfolio and a team of top-quality lawyers, this merger is a natural extension of our own operations and we’re delighted to welcome Tessa and her team into the Acuity family.”
Ms Laws added: “Like us, Acuity do things a bit differently from most firms and they share our entrepreneurial approach and collaborative culture. At a time when the legal profession is changing, it’s exciting to be linking up with a fast-growing and dynamic firm like Acuity to offer our shared expertise in the UK and internationally.”
Mr Finley said: “Our firm is built on a team of quality lawyers who work far more flexibly and dynamically than traditional firms. It’s great that we’re attracting strong interest from enterprising lawyers, such as Tessa and her team, who want to develop their careers in a supportive and rewarding way.”
ALS MANAGED SERVICES
STEVE Lanigan has led the management buy-out (MBO) of Pontypoolbased ALS Managed Services just four years after the business was established.
A combined funding package in excess of £1m from the Development Bank of Wales and HSBC has enabled the majority shareholders to exit the business, with the Development Bank taking a 20% equity stake in the new company.
The founding partners developed ALS into a leading recruitment firm specialising in the UK-wide recycling and warehousing sectors, with a blue-chip customer base including major national recycling and distribution companies.
ALS’s turnover is currently in the region of £26m and it is one of the fastest-growing businesses in the sector. A robust national account management structure features 22 permanent staff managing over 1,100 temporary workers each week, ensuring that workforces are legally compliant, productive and reliable. These numbers are expected to double over the next two years.
The investment by the Development Bank via the Wales Management Succession Fund has enabled the company to relocate to a new 3,500 sq ft office at Van Road Business Park, Caerphilly, to increase its service offering to clients to include a number of added-value initiatives.
Chief executive Mr Lanigan said: “We are very lucky to have such a talented team driving our growth in the UK recruitment market. I am personally very grateful for their hard work and commitment over the last four years and their evolution into