The Quercus team, led by Amanda Hall and Nick Standen, advised the Board of discoverIE on the acquisition of Santon, for an initial consideration of €27m with a further €19.5m dependent on the future performance of the business.
Santon, with its headquarters in Rotterdam and sales offices in the UK and Germany, designs and manufactures highly differentiated, patented direct current switches for use in solar, industrial and transportation markets.
Quercus originated the deal for discoverIE through its strong relationships with The Terra Alliance, a highly effective international M&A network where Quercus is the exclusive UK member firm.
Amanda Hall said:
“This transaction demonstrates the strength of The Terra Alliance. At one of our six monthly origination meetings we profiled discoverIE as a serial acquirer and Dutch attendee, Iris Corporate Finance, identified Santon as a business which matched discoverIE’s niche acquisition criteria. Having worked with discoverIE for nearly a decade now, it was very clear to us that Santon would fit well with discoverIE, both corporately and culturally. We are delighted to have advised discoverIE on this very important transaction.”
Nick Jefferies, discoverIE CEO added:
"The Quercus team did a first class job. Amanda and Nick once again provided straightforward, objective and clear advice and their commercially focused, hands on approach made a real difference in getting the transaction over the line. We are delighted to welcome Santon to the group.”