An affiliate of Sun European Partners, LLP (“Sun European Partners”), today announces that it has completed the acquisition of WesCom Signal and Rescue (“WesCom” or the “Company”), a global leader in visual signalling and safety products for the marine and defence end markets, from The Jordan Company, L.P. (“TJC”), for an undisclosed sum.
Headquartered in Havant, UK, WesCom is one of the most highly recognised and trusted names in the production of mission-critical, non-discretionary, pyrotechnics products with leading brands including PainsWessex, Comet and Oroquieta that operate in a highly regulated market. The 100-year old Company benefits from long held customer relationships as well as an unmatched distribution network, serving marine distributors, vessel owners, life raft OEMs and defence ministries globally.
Paul Daccus, Managing Director at Sun European Partners, said: “WesCom is the latest example of our momentum in Europe and refined investment focus on businesses where we can work with management teams and apply our operational expertise to transform companies from good to great.
WesCom is a trusted brand with a century long track record in visual signalling and safety products for the marine and defence markets. Its unparalleled reputation, high product quality and long-standing customer relationships has enabled it to maintain global leadership in a highly attractive niche market. We believe WesCom now has the potential to deliver a new phase of organic growth as well as the opportunity for add-on acquisitions for its marine and defence divisions.”
Other recent examples of “good to great” investments by Sun European Partners affiliates include the acquisition of Allied Glass, the leading UK-based manufacturer of glass packaging containers for the premium spirits and food & drinks markets, and the acquisition of Vetrerie Riunite, an Italian-headquartered global market leader in the production of technical glass and refractory rollers.
Sun was assisted on this transaction by FTI Consulting as financial due diligence advisors, DLA as legal advisors, Rothschild as debt advisors, Investec as M&A advisors, and Roland Berger as commercial advisors. WesCom was assisted on this transaction by Lazard and Evercore as financial advisors, and Mayer Brown LLP as legal advisors.