PKF Smith Cooper Corporate Finance provided sell-side advice on the deal, with support from our transaction tax team.
Our client
Affini is a leading UK communications solutions provider, providing comprehensive services within the transport, construction, blue light and energy defence sectors. The company’s services cover strategy, service management, maintenance and design, encompassing voice, video and data communication solutions, telematics, telemetry and tracking of assets and people.
Founded in 1974, Affini was originally the radio division of the organisation behind British Airways, which was carved out to become a distinct business. The firm has many longstanding customer relationships, including blue chip clients, spanning 10+ years. In 2019, a change in strategic direction led Affini to target new markets with high barriers to entry where more specialist skills were required, which resulted in the company entering new sectors such as blue light, construction, nuclear and defence.
How we helped
A partner-led advisory team from PKF Smith Cooper Corporate Finance consisting of Darren Hodson, Tom Joy and Josh Gurton provided sell-side advice to the Affini stakeholders. Adam Rollason (Tax Advisory Partner) and Harry Cook also delivered transactional tax support.
The advisory team also helped our client source a suitable buyer for the company. Petards is a UK based technology firm, specialising in rail and traffic solutions in smart cities, wireless communication solutions that serve the UK’s critical infrastructure and technologies within the defence industry. The Board of the Group viewed Affini as a “clear fit with the Group’s strategy” and saw the acquisition as representing “a further step in building the Group’s target markets” that would give Petards new capabilities and services to enhance its product portfolio.
“We are pleased to have helped the stakeholders at Affini find a buyer with a synergistic fit in a significant deal for the UK technology sector. This is PKF Smith Cooper’s third deal within the sector since October and we look forward to supporting more technology businesses with their M&A needs during the coming year.”
Darren Hodson, Corporate Finance Partner
What our client had to say
Ian Carr, CEO of Affini, commented: “We are looking forward to joining the Petards Group which shares our passion for delivering innovative technology, expertise and exceptional customer service. From Affini’s strong heritage in critical communications within the aviation sector, I am proud that in recent years we have expanded into new markets, added new technologies, and secured prestigious projects across the bus, rail, energy, construction, and defence sectors. With Petards operating across many similar and complementary markets, I believe this represents a significant strategic milestone for the business and will enhance its ability to take advantage of the growth opportunities in its target markets.”
Buy or sell your business in the Midlands with PKF Smith Cooper Corporate Finance
Our award-winning dealmaking team are the 5th most active advisors in the Midlands and 7th in the UK. In 2023, we helped clients across the Midlands secure 22 deals worth a combined £276.7m. If you are thinking about buying or selling your business, now or in the future, get in touch with us today.
