Landmark deal strengthens ITI Group’s position in the civil and defence nuclear sectors
Weightmans has successfully represented the selling shareholders of Staffordshire-based Noveum Ltd in the company’s acquisition by the leading international systems integrator, ITI Group.
This significant transaction marks a further expansion of ITI Group’s presence in the civil and defence nuclear enterprise sectors, enabling the business to deliver enhanced system and design expertise in industrial automation and functional safety systems.
The acquisition of Noveum will not only bolster ITI Group’s already considerable capabilities but will also significantly increase the business’s SQEP (Suitably Qualified and Experienced Personnel) expertise. This comes at a time of rapid growth and increased investment across the nuclear sector, as the UK government’s strategic initiatives drive demand for specialist services supporting new infrastructure and the managed transition of existing facilities.
Paul Raftery, Corporate finance Partner at Weightmans Manchester office, commented:
“We are delighted to have supported Noveum in this landmark deal. The nuclear sector is evolving at pace, and this agreement brings together two highly respected businesses, boosting their combined capabilities and enabling them to offer a more comprehensive service to meet the ever-growing needs of the civil and defence nuclear enterprise sectors.”
The Weightmans team led by Paul included colleagues John Kemp (Corporate), Kerry Waters and Patrick Byrne (Employment), Haydn Rogan (Tax) and Angela Gregson (Competition/NSIA).
Jon Else, Partner at DJH Corporate Finance, advised the shareholders of Noveum on the sale.
Roger Turner of Noveum, commented:
“The Directors of Noveum and advisors from Weightmans and DJH Corporate Finance formed a great team and worked very well together to get the deal done.”
