Founded more than 40 years ago, County Durham-based battery manufacturer ATEL, has been acquired from US-based private equity house Woodside Capital Partners.
The transaction will support the continued growth, expansion and development of the company, which works closely with its blue-chip OEM customers in the design and manufacture of customized rechargeable battery packs and charging equipment that are designed for integration with health and safety devices, personal protection products, medical devices, and highly engineered portable powered products.
In addition to providing initial acquisition funding for the MBO, the facility also includes a £1 million backstop guarantee and funding line in support of a significant development capital investment program. This will facilitate the move into a new, state-of-the-art manufacturing and warehouse premises and the creation of a meaningful number of new jobs at ATEL’s main site in Peterlee. The planning and investment in plant and machinery is currently underway and will substantially increase manufacturing capacity.
Alastair Brown, CEO of Shard Credit Partners said, “Alexander Technologies Europe Ltd is an example of the high quality, technology-led companies located in the Northern Powerhouse region that, through our investment and experience, will enable us to build on their previous achievements to deliver greater growth and financial success. It has established a strong position in its industry, which is testament to the expertise and experience of its workforce. We are confident, by working in close partnership with CEO Michael Shirley and the management team, that the business can achieve increased market share through the enhanced production of its innovative technologies.”
With complicated political factors, the project has been a long journey of 16 months. The success of this project demonstrates the professionalism and competencies of Saxenhammer & Co. in complex international background.