Entrepreneurs Hub advises A.T.E. Solutions on its sale to Bergman & Beving
About A.T.E. Solutions Ltd
Based in Northampton, United Kingdom and trading since 1988, A.T.E. have unrivalled experience in the Automatic Testing Industry. Covering design and build of ATE systems, fixtures, test programs, servicing and legacy equipment support, A.T.E provide the complete automated test solution.
The company’s systems and applications are installed in multiple sectors throughout the UK and overseas including the Military, Aerospace, Power, Automotive and others.
About Bergman & Beving AB
Bergman & Beving consists of leading companies with niche products and brands for professional users in manufacturing and construction in northern Europe. The Group consists of about 20 operations in as many countries. Bergman & Beving is listed on Nasdaq Stockholm, has circa 1,200 employees and generates revenue of approximately SEK 4.5 billion.
Oscar Fredell, Head of Division Tools & Consumables commented:
“A.T.E. has a market leading position within automated testing equipment in the UK and has succeeded well in combining systems, applications, and service. Our goal going forward will be to continue to strengthen the company’s market position and, step by step, bring the company’s strong offering to more markets outside the UK as the company’s management have already started doing.”
Previous majority owner Steven Lees, who will continue in the company commented:
“We are looking forward to joining Bergman & Beving. With their long-term and stable position, we see them as ideal owners for A.T.E. going forward.”
Commenting on working with the Entrepreneurs Hub team Mr Lees added:
“We have built a company which provides world class solutions to a blue-chip customer base in highly regulated and complex industries, so it was important for us to work with experienced advisors who share our ethos for delivering outstanding service. The Entrepreneurs Hub team took the time to understand our business and guide us through all the necessary steps to prepare for, discretely approach and meet with several interested parties and to ultimately complete this transaction for us. I am grateful for their diligent work which was all delivered in a supportive, personal and friendly way. I would highly recommend Entrepreneurs Hub to anyone considering a sale of their business.”
Rob Rickard, Lead Advisor, Entrepreneurs Hub commented:
“It has been a real pleasure to work alongside Steve and to complete this acquisition with Bergman & Beving which is a great home for the business. We look forward to seeing A.T.E.’s success go from strength to strength in due course.”
A.T.E. will become part of the Tools & Consumables division with immediate effect. The acquisition is expected to have a marginal positive affect on Bergman & Beving’s earnings per share during the current fiscal year.
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