5 March 2012
Press ReleasesThames Valley and South Coast accountants James Cowper Kreston has secured the sale of Barnstaple-based Aero Stanrew Ltd for c£8m. Acting on behalf of the company’s owner, James Cowper Kreston sold Aero Stanrew to its management team.
Aero Stanrew is a specialist electromagnetic and electronics manufacturer to the commercial aerospace market employing more than 150 people based in Barnstaple, Devon. The sale to the management team was agreed and finalised in February 2012.
The James Cowper Kreston team was led by Stewart Lambert, with support from Stuart Williams.
Commenting on the sale, Stewart Lambert said: “This transaction is the culmination of a 13 year journey for me. I have worked alongside the management team since 1999 when, working for 3i, I led and investment into the business – then called New Chapel Electronics.
“Having worked on the original management buy in I have since advised the management team on a demerger and sale of part of the company. It has been a privilege to have been involved with such a successful business for such a long period of time.”
Mervyn Leonard, Chairman and Majority Shareholder commented: “I am delighted to have sold to my management team and would like to thank Stewart and his team for their advice over a number of years. Having worked with Stewart since the original MBI, we have built a strong relationship and have always trusted his opinion and advice.”
Stewart Lambert, Partner, James Cowper Kreston LLP, Tel +44 (0)118 9590261 or email slambert@jamescowper.co.uk
