Weightmans supports sale of world-leading equipment manufacturer
The sale of Cheshire-based Isotopx, the specialist equipment manufacturer, was supported by Weightmans
The Manchester office of national law firm Weightmans LLP advised on the sale of Cheshire-based Isotopx to Techcomp Europe.
The Weightmans team was led by corporate partner Paul Raftery and supported by associate Barry Riley, who provided legal advice to the shareholders of Isotopx. Isotopx designs and manufactures mass spectrometers and enjoys a worldwide customer base. Global equipment manufacturer Techcomp Europe acquired a majority shareholding in the business in a deal which completed on 30 June.
The value of the deal has not been disclosed.
The team at Isotopx will continue to be led by CEO and founder Zenon Palacz, while co-founder Mark Yardley has retired.
For Techcomp Europe, the acquisition marks a key milestone in its strategy to provide a broad portfolio of innovative scientific instruments to the world’s leading universities and research institutes. With the support of Techcomp, Isotopx will continue to innovate and produce Thermal Ionization and Noble Gas mass spectrometers, as well as invest in bringing new products to market.
In turn, Isotopx’s team will benefit from Techcomp’s global marketing and distribution network to reach an expanded customer base.
Paul Raftery, partner at Weightmans, commented:
“Zenon and Mark have built a mass spectrometer company here in the North West that competes with the biggest and best in the world. Having acted for them since their inception 13 years ago, it was a pleasure to advise them on this deal as they Zenon take things forward with new co-owners Techcomp Europe. The transaction demonstrates the continuing attraction that UK business have for non-UK companies looking to acquire quality businesses. With its genuinely world leading technology, Isotopx will continue to be based in the North West as it goes on to the next stage of its growth.
Lead corporate finance advice coming from the Manchester office of Azets led by partner Tim Mills supported by Nan Hao.
Tim Mills, corporate finance partner at Azets, in Manchester said:
“We were delighted to advise Zenon and Mark on this transaction and it’s great to see the success of their company being recognised. Despite the challenges of the pandemic, Brexit and the uncertain economic outlook, this deal proves that attractive, well managed businesses will always be in demand. It’s credit to the resilience and enterprise of the North West business community that our teams remain so active.”
Zenon Palacz, CEO and founder Isotopx said “We are really looking forward to working with Techcomp to grow our business together. The next few years promise to be an exciting period for us as we build on the success of the ATONA Amplifier and bring exciting new products to market. The culture at Techcomp is a good match with Isotopx, where innovation and cutting-edge technology are at the heart of everything we do.”
Richard Finlayson, CEO Techcomp Europe said “Techcomp and Isotopx complement each other very well. Isotopx have a very strong technical team with a worldwide reputation for excellence. This investment allows for collaboration between Isotopx and the technical experts in our other companies to bring further innovations and improvements across our product portfolio. In addition, Isotopx will also leverage our global sales and marketing infrastructure to reach new customers. We very much look forward to welcoming them to the Techcomp family and to supporting them through the successful launch of their exciting new products.”