Blakley Electrics Limited, a long-established UK manufacturer of high-performance power and lighting solutions, has been acquired by Lucy Group Ltd in a strategic transaction that unites two highly respected names in the electrical engineering sector.
The Corporate Finance team at PKF Smith Cooper acted as lead advisers to the shareholders of Blakley Electrics, delivering comprehensive support throughout the sale process. This included identifying potential buyers, discreetly marketing the business to a targeted shortlist, negotiating terms, and managing the transaction through to completion. Strong interest was generated, and Lucy Group was ultimately selected for its clear strategic alignment and cultural fit.
Established in 1957, Blakley Electrics specialises in the design and manufacture of permanent & temporary Low Voltage power distribution equipment, protection products, site lighting, and transformers. The company operates manufacturing facilities in Crayford, Kent, and Harlow, Essex, drawing on more than 50 years’ experience in specialist sheet metal fabrication and the electrical assembly of distribution, protection and transformer products. An engineering centre is also located at the Harlow site.
The acquisition by Lucy Group Ltd, global company creating sustainable engineered environments marks a significant milestone in the growth strategies of both businesses. The acquisition strengthens Lucy’s position in the power and industrial lighting sectors and broadens the range of services provided to its customers.
The PKF Smith Cooper Corporate Finance team, comprising of Tom Joy, Jason Sackey, Ellis O’Neill and led by Darren Hodson advised on the transaction, with legal advice provided by Higgs LLP. Lucy Group was advised by KPMG and Pennington Manches Cooper.
Darren Hodson, Corporate Finance Partner at PKF Smith Cooper, commented:
“We’re proud to have supported this transaction, which brings together two highly complementary businesses. Blakley Electrics has a rich heritage and a strong market position, and this acquisition by Lucy Group Ltd creates exciting opportunities for future growth and innovation.”
Peter Blakley, Managing Director of Blakley Electrics, commented:
“The company has been in my family for over 65 years, so I was keen to find the right buyer to guide it through its next stage of growth. I am confident that Lucy Group, a 200-year-old, family-owned company with a highly respected name in the UK electric energy sector, is the right choice.”
Dan Slater, Finance Director at Blakley Electrics, commented:
“The PKF Team has been superb throughout the process, and were both strategic and commercial throughout the deal. Their knowledge ensured the sale process was smooth throughout. I would highly recommend them to other owners.”
Richard Dick, Executive Chairman at Lucy Group, commented:
Blakley Electrics is a good fit, bringing complementary products to the Group and widening our customer base to include sectors such as construction, rail, military and outdoor events. It’s a family business that shares similar values, especially in terms of quality, customisation and customer service. We are delighted that the Managing Director, Peter Blakley, will be staying on for the next 12 months to help with the transition.”
Joel Nixon, Partner at Higgs LLP, commented:
“This was a very smooth transaction with all sides working well together. The combination of Lucy with Blakley Electrics should ensure both businesses are set for future growth”.
