Clearwater makes French connection


First Technology plc, the international safety, sensing and analysis group has been advised by the Birmingham office of Clearwater Corporate Finance on the disposal of one of its French subsidiaries, RDI Components.

This is the seventh deal completed by Clearwater in the last two months.

Based in Egham in Surrey, First Technology has disposed of RDI, which is based in Villepinte near Paris, to Axess Technology S.A.S., a privately owned French company.

With a 12 million Euro turnover, RDI employs 42 staff and markets a complete range of passive and electromechanical electronic components for use in the automotive, telecoms, electronics and other sectors. The company has strong expertise in fuses & protection devices, connectors & telecoms components, capacitors and filters and optoelectronic, signalling, connection and switching products.

Oliver Burns, finance director of First Technology plc said; “I am delighted to achieve a successful sale of RDI, which no longer fits with our strategic objectives. With the help of Clearwater and their international partners, we believe we have found an excellent home for RDI, its customers, suppliers and employees.”

“This deal further demonstrates our cross-border capabilities and is a classic example of our global reach,” commented Andy Moore, partner with Clearwater.

“This is also a good example of how corporate finance boutiques can provide advice and solutions on mid-market acquisitions and disposals for larger corporate groups, which would not attract the same level of service from the larger investment banks,” he adds.