Signum Technology acquires Vee Bee Filtration
HMT LLP led by Partners Andrew Thomson and Paul Read undertook financial due diligence for private equity backed Signum Technology Group (“Signum”) on their acquisition of filtration equipment manufacturer Vee Bee Filtration Ltd (“Vee Bee”).
Signum is a market leading group of specialised engineering businesses operating in the safety and critical service flow control sectors with a particular focus on the oil, gas and LNG industries. Signum’s vision is to build a family of quality, market leading businesses through a buy and build acquisition strategy. The post-acquisition strategy is to build value through investment in new product development, engineering excellence, harnessing combined routes to market. Vee Bee is the fourth company acquired by the engineering group after Gall Thomson, Klaw and Klaw LNG.
Founded in 1957 and based in the West Midlands, Vee Bee is a worldwide certified manufacturer of specialised filtration equipment including strainers, filters and pressure vessels for industrial and commercial applications.
Signum is backed by private equity firm Phoenix Equity Partners.
HMT, led by Andrew Thomson and Paul Read undertook financial due diligence on this transaction.
Chris Wilks, CFO at Signum commented:
“We were pleased to have the support of the HMT team, who mobilised quickly and provided timely commercial advice beyond the necessary task of financial due diligence.”
Paul Read commented:
“We are delighted to have advised Signum and Phoenix on this exciting acquisition that strengthens the position of Signum’s service offering and enables the business to meet its ambitious growth targets. We look forward to working with them again in the future.”