Quercus Corporate Finance announces the sale of GTK to AIM-listed Volex plc

January 24, 2019
Andrew Clegg

The Quercus team, led by Amanda Hall and Andrew Clegg, advised the Board of GTK, a UK-based manufacturer of customised electronic solutions including cable assemblies, displays and connectors, on the sale of the group to global provider of cable assemblies, Volex plc.  The transaction represented an exit for funds administered by YFM Equity Partners who originally backed a buy out of the business led by John Morath in 2013.

Headquartered in Basingstoke and with operations in the UK, Romania and Taiwan, GTK has been in business for more than 25 years. Focused on the Northern European market, GTK has over 300 active customers, supported by a highly skilled European-based sales and engineering team.

In addition to bringing UK manufacturing back into the Volex Group after a gap of over 10 years, the acquisition expands Volex's market leading cable assemblies division. Furthermore GTK’s business introduces important new capabilities, customer relationships and innovative new products to the Volex Group.

Volex acquired GTK for a total consideration of approximately £14.3m.

Amanda Hall, Founding Partner of Quercus said:

“From the outset it was clear how important it was for the GTK Board that we found a strategic partner that would allow the business to continue to flourish under new ownership and where GTK could bring valuable new competences to that partnership. In Volex I believe we have found that partner. It has been an absolute pleasure working with the management team and YFM to deliver this great result.”

John Morath, managing director of GTK added:

“I believe this is an excellent deal for both GTK and Volex. We know that in Volex we have found a buyer that shares the same corporate values we have at GTK. In turn GTK enhances Volex’s offerings in a number of key strategic areas. The advice provided by Amanda and the team at Quercus was straight-forward, objective and highly commercial.”

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