DePe Gear, a leading manufacturer of high-precision ground gears, has been acquired by Swedish technical solutions group, Addtech Nordic AB.
A publicly listed technology trading company based in Stockholm, Sweden, Addtech has acquired an 82% stake in Staffordshire-based DePe Gear from Andrew Jubb, Nigel Parker and their families and other minority shareholders of parent company, Mechanical Power Transmission.
Established in 1987 in Stoke-on-Trent, DePe Gear produce high-precision gears for businesses in the UK, Europe and the US across major sectors including engineering, defence, aerospace and industrial.
As a renowned supplier of custom-engineered gears, transmissions, and mechanical driveline components for demanding industrial applications, DePe Gear operates with a team of 57 manufacturing experts and supplies a range of high-profile customers including the Ministry of Defence, Transport for London, Rolls Royce, Aston Martin and Triumph.
Addtech AB, the parent company of Addtech Nordic AB, comprises of 150 independent companies that sell high-tech products and solutions to customers primarily in the manufacturing and infrastructure sectors in around 20 countries. By joining forces with Addtech, DePe Gear will continue to provide needs-adapted and sustainable technical solutions across a breadth of industrial applications.
A specialist, multi-disciplinary team at Knights advised the shareholders of DePe Gear on the sale to Addtech Nordic AB. The team was led by corporate partner, Karen Procter, supported by Ryan Tweedale and Aaron Chaddha in corporate, Rachel McIlory in real estate, Caroline Rayner in employment and Charlie Markillie in competition.
Andrew Jubb, Director of DePe Gear, said: “The sale to Addtech represents a really exciting next chapter for us at DePe Gear and we’re excited to see what the future holds as the newest business in their group.
“Nigel and I are incredibly proud of how far we’ve grown as a business over the last 35 years and we’re confident that joining the team at Addtech will allow us to continue to provide the very best high-precision gears for businesses in the UK, Europe and the US.
“I’d like to thank Karen and the team at Knights for their hard work and collaborative approach throughout the transaction. They diligently guided us through each stage of the sale process and helped support a smooth process and a successful outcome.”
Karen Procter, Corporate Partner at Knights, said: “It was a pleasure to have supported the Jubb and Parker families and other shareholders of DePe Gear on this transaction, which recognises the value and rewards the culture they have built up together over many years. This transaction is the beginning of an exciting new chapter for them, their business and their employees.
“The rapid growth of DePe Gear to date has been really impressive and I’ve no doubt that together with the team at Addtech Nordic AB and their group of like-minded businesses, the products and services that DePeGear offer will continue to go from strength to strength alongside a growing worldwide supply chain.
“All of us at Knights send our best wishes for the future to both businesses as they embark on this new venture together.”
Tom Campbell, Managing Partner at Convex, corporate finance advisors on the deal, added: "This deal is another example of the growing appetite among Nordic acquirers for high-quality UK businesses. What sets many Nordic buyers apart is their buy-and-hold philosophy; They invest for the long term rather than for a quick exit.
“For owners like Andrew and Nigel, that matters. It means the business they've built, its people, culture and reputation, is protected and given the resources to grow. We're delighted to have advised DePe on joining Addtech, and we expect to see more UK owners choosing this route."