Law firm Charles Russell Speechlys in Guildford has advised the shareholders of Next Control Systems on their sale to Elektron Technology plc for £10.5 million.
Elektron Technology Group will now focus on combining the Next business with that of Checkit to create a global leader in the field of real-time operations management.
The acquisition of Next Control Systems, which employs over 100 people, is a strategic fit for Checkit, providing technology and software that enables management teams to monitor, control and optimise business processes.
Next Control Systems was founded in 1990 and is a respected provider of Building Energy Management System services.
Charles Russell Speechlys’ deal team was led by corporate senior associate Jonathan Steele and included Samuel Milne, Tertius Alberts and Matthew Carter (corporate), Becky Lawton (employment), and Alison Stagg (tax).
Tim Bartholomew, co-founder of Next Controls Systems, commented: “Charles Russell Speechlys were recommended to us following the receipt of an unsolicited offer to buy our long-established company of 29 years. As we soon found out the actual sale and purchase process is not for the faint hearted, it is an emotional and time-consuming affair, with many serious issues to be dealt with along the way. It is therefore essential to have the right legal expertise on hand throughout the process.”
Steele added: “It was a pleasure to assist the sellers of Next Controls Systems on this transaction. The deal further adds to our corporate team’s experience in the technology sector.”