Navigation specialist picked up by Norse raiders
A Lancashire-based specialist navigation business founded by a former Royal Navy navigator has been acquired by a division of Norwegian defence group Teleplan.
Teleplan Globe says it has bought the Forsberg, based at the port of Heysham, on Lancashire’s northern coast, to strengthen their capabilities within operational decision support systems, control and integration of unmanned systems especially in accurate positioning data.
For Forsberg’s UK and international customers, the deal offers “a considerable addition to the company’s software development capacity”.
Employing 40 people in Heysham, Forsberg Services provides precision technologies for positioning, navigation and timing (PNT) for both defence and civilian uses, such as oil and gas exploration.
Teleplan Globe has been a key strategic partner for Forsberg over four years, developing the MANTIS software solution. They were primarily interested Forsberg’s engineering and expertise in PNT technology.
Charles Forsberg, who founded the business in 1987 after leaving the Royal Navy where he worked as a navigator and hydrographic surveyor, and has been the majority shareholder, will continue to support the company as an advisor. Chris Mayne, who stepped up as managing director in 2020, will remain as the Managing Director and key management will remain significant minority shareholders.
Charles Forsberg with Prince Phillip
In 2008 Charles Forsberg was recognised and awarded with a Fellowship to the Royal Institute of Navigation by the late Duke of Edinburgh.
Financial terms of the transaction were not disclosed.
Jan Nyegaarden, chief executive of Teleplan Globe said: “Teleplan Globe is excited to welcome Forsberg into our global family, and we are looking forward to a prosperous future together. We remain steadfast in our promise to deliver innovative solutions providing exceptional value to our customers and strategic partners.”
Chris Mayne, managing director of Forsberg says: “It was of critical importance that any interested party in Forsberg aligned with our core values, and we have cultivated a close and strategic partnership with Teleplan Globe, resulting in the creation of truly innovative solutions.
“From everybody at Forsberg, I’d like to take the opportunity to thank our founder, Charles Forsberg, for his endeavour and leadership in building this great business. I know that he is excited for our future, and we all wish him well.”
Based in Lysaker, Norway, Teleplan Globe AS is a 100% subsidiary of the Teleplan Group which was established in 1959 and has operated under the same private ownership for more than six decades. Teleplan Globe has approximately 140 employees, including more than 100 software engineers, designers and developers.
The shareholders of Forsberg Holdings Ltd were advised by Azets’ Corporate Finance (David Simmons and Nan Hao) and Azets Tax (Jenny Pape, Vicky Pickering and Amy Braithwaite). Weightmans were the legal advisors for the sellers.
Azets advised Forsberg on the sale. Mayne said: “Thanks to the expert support and guidance of the Azets’ Corporate Finance and Tax teams, led by David Simmons and Jenny Pape respectively, the deal was a seamless transaction, allowing both companies to operate as normal during the process.”
