Stephens Scown was delighted to support the ambitious international growth aspirations of longstanding client, Feritech Global Ltd, through the sale of a majority stake in the Cornish engineering consultancy firm to Addtech Industrial Solutions.
About Feritech Global
As a leader in the design and manufacture of bespoke technical solutions for the geotechnical subsea sector, Feritech has a broad offering and operates globally, mainly towards the expansion of offshore wind power. It was named as winner of the first ever King’s Award for Enterprise 2023 in recognition of its outstanding achievements in the fields of international trade.
Addtech is a Swedish publicly listed technical services group, comprising more than 140 independent companies that sell high-tech products to customers primarily in the manufacturing and infrastructure sectors. Operating in about 20 countries and with annual sales of more than £1.08bn, it employs around 3,500 people globally.
Daniel Prelevic, Business Area Manager, Addtech Industrial Solutions says: “With its broad offering, primarily for the expansion of offshore wind power, Feritech will complement and strengthen our existing operations within the Vehicle Solutions business unit in a very good way.”
Rob Ferris, MD of Feritech Global, said: “This is a very exciting development for Feritech Global. It will provide greater financial strength and support our continued ambitious international growth. We are delighted to be joining the Addtech family.”
Speaking about the role played by Stephens Scown in the sale, Rob added: “Stephens Scown has provided Feritech Global with superb support throughout. Their team has been constantly available to us and their level of care has been outstanding.”
Gavin Poole, a Partner in Stephens Scown’s Corporate team who worked on the deal commented, “We have been pleased to support this award-winning business for a number of years. Our multi-disciplinary team provided a cutting edge service to reach a crowning moment in the history of the business and we wish them every success as they continue in the next stage of their business journey as part of the Addtech Group.”