National law firm Shoosmiths has advised the shareholders of TSC Inspection Systems, which include long standing client Octopus Investments, on the company's acquisition by market-leading Eddyfi Technologies.
Headquartered in Milton Keynes, TSC has significantly contributed to electromagnetic testing technologies over the last 30 years. TSC's ACFM technology is accepted as one of the most reliable methods of detecting surface-breaking cracks in steel structures and metallic components and is specified by owners and operators of safety-critical infrastructure worldwide.
Established in 2009 and headquartered in Quebec, Canada, Eddyfi Technologies provides test instruments for the inspection of critical components and assets in a range of markets including oil & gas, nuclear, aerospace and heavy industries. Its acquisition of TSC reinforces Eddyfi's presence in the UK and broadens the company's portfolio of technologies and addressable markets.
The Shoosmiths team was led by corporate partner Alastair Peet with senior associate Alistair Hammerton and paralegal Alice Sedgley assisting and tax partner Kate Featherstone advising on tax related aspects.
Grant Paul-Florence, Head of Intermediate Capital, Octopus Investments, commented: 'Eddyfi's extensive resources and investment will ensure the further development of TSC's innovative technologies and accelerate its market share, particularly in the oil and gas offshore applications.
'Shoosmiths has once again provided invaluable legal advice to ensure the most beneficial deal was achieved for the TSC shareholders and we look forward to continuing our strong working relationship on future projects.'
Alastair Peet added: 'We are really pleased to have advised Octopus Investments and the other shareholders of TSC on this transaction and assisting in securing the best possible outcome for all parties involved. We wish Eddyfi and TSC the best of luck in their future endeavours.'
Shoosmiths' corporate team advises public and private companies, management teams, investors and debt providers through the business life cycle. Shoosmiths work with businesses from start-up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.
Nationally, the corporate team is ranked in first place by deal volume in Experian's 2016 MarketIQ UK & Ireland M&A league tables. The team was recognised for its mergers and acquisitions expertise at the 2015 M&A Awards, winning the Law Firm of the Year category.