Waterman Group acquired by CTI in £43m deal

Waterman Group acquired by CTI in £43m deal
Gateley brokers deal with Japanese firm's advisers

LSE-listed engineering consultancy Waterman Group, which has offices in Manchester, has been acquired by Tokyo company CTI Engineering for £43m.

Corporate partner in the capital markets team at Gateley, Nicholas Emmerson supported by fellow partner Paul Cliff and corporate solicitor Tamanna Keir advised WHIreland, who acted for CTI, on the deal.

They said the acquisition fits with CTI’s strategy to build organically through acquisitions and through developing overseas markets to expand its private sector client base.

James Joyce, WH Ireland corporate finance director, said: “It was a pleasure to work with CTI on its transformational deal to acquire Waterman. This was CTI’s first significant overseas deal and marks a significant step in its 10-year strategic plan to diversify from its reliance on national and local government contracts in Japan.”

Emmerson said: “Our corporate team is well placed to advise our client on this offer, having experience of such transactions with a range of clients based all over the UK, as well as across the world, from the US to Asia.

“This is a great example of how Japanese companies are still seeing the UK as an investment destination post the Brexit referendum and the local economy in Manchester can only benefit from such investment.”

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