Mi Technology picked up by Canadian group

LANCASHIRE-based Mi Technology, which carries out testing for manufacturers, has been acquired by a Canadian group CSA.

CSA, which also carries out testing, said the deal would help it bolster its work with carmakers.

It did not say how much it paid for the Leyland-based business which is owned by directors James Oakes and Martin Field. In the year to April pre-tax profits grew by 20% to £806,790 on sales of £8m.

Managing director Martin O’Leary said: “Mi Technology Group is an established and recognised brand in the automotive sector with a history of more than 30 years in the UK. By joining CSA Group, Mi Technology will now have the resources needed to expand its automotive testing reach to new markets in Europe, Asia and North America as well as the ability to build on emerging business in sectors such as aerospace, oil and gas and industrial.”

CSA’s vice president for Europe Magali Depras, said: “The acquisition of Mi Technology Group is key to CSA Group’s global growth strategy in the transportation and commercial vehicle testing sector.

“We have rapidly expanded our automotive testing capabilities in Germany and North America for traditional and alternative vehicle technologies, and this acquisition allows us to further expand our global service offerings to mi Technology’s client base. Mi Technology’s clients, together with CSA Group’s existing clients, include some of the most technologically advanced and recognised automotive brands in the world, and this acquisition will enable one-stop shopping and further synergies for current and new customers.”

A team from KPMG Transaction Services in Manchester, led by partner Chris Stott, performed financial and taxation due diligence on behalf of CSA Group UK.

Mr Stott said: “In-depth expertise combined with cutting-edge technology means that Mi Technology will prove to be an excellent addition to CSA Group UK and the wider CSA Group. It also clearly demonstrates the importance placed by CSA Group and many of the global blue chip Mi Technology customers on the high quality of service provided by companies in the UK.”

Wendy Mason of PwC’s corporate finance team in Manchester introduced CSA Group to Mi, which was also advised by Clearwater Corporate Finance.