Marine technology company has been sold for undisclosed amount
A marine technology company based in Totnes with clients worldwide is to be acquired by leading-edge subsea technology company Teledyne Marine for an undisclosed sum.
Valeport, an independent family-owned business which was established in 1969 and is recognised as a market leader in the design and manufacture of underwater sensors and profilers, employs more than 115 people at their premises on St. Peter’s Quay.
Valeport will play a crucial role in extending Teledyne’s range of advanced products and solutions supporting their global customer base.
For over fifty years, Valeport has designed and manufactured instrumentation for the oceanographic and hydrographic communities and global demand for its precision sensors and probes has continued to grow robustly, with the firm investing in new premises, production systems and staff over many years.
After 18 years at the helm, building the Valeport business, Matt Quartley felt the time was right for Valeport to join a larger organisation that had the ability to further support and grow Valeport’s business interests and provide additional career opportunities for the company’s employees.
Matt Quartley, Valeport Managing Director said: “Our family is very proud of Valeport’s journey to date, but the time is right for the next phase, and I am so pleased that this will be as a part of Teledyne Marine.
“We have been careful to find a buyer for our family business that shares our values and commitment to innovation and outstanding customer service; Teledyne Marine was the natural choice for taking the business forward.
“The prospect of working with the rest of the Teledyne group to bring our customers an even greater range of superb, high-quality products is something that we are incredibly excited about, and will undoubtedly be to the benefit of Valeport, Teledyne, and most importantly, all of our customers.”
A team at PKF Francis Clark, comprising Matt Willmott, Chris Bishop, Andrew Killick and Ben Slater, were lead advisors to the shareholders of Valeport on the sale of the business.
Their role included managing the full sale process, from pre-sale preparation through to identifying potential buyers, transaction negotiation, due diligence support and tax structuring advice.
Matt Willmott, corporate finance director at PKF Francis Clark, said: “Valeport is a high-quality South West manufacturing business with an excellent team and a leading brand in its marketplace. Having worked with Valeport as a firm for many years, we were delighted to advise the shareholders throughout this successful transaction, which paves the way for an exciting future as part of the Teledyne group.”
Matt Quartley and his leadership team are working over the coming months with Teledyne Marine to ensure a smooth transition for all staff and customers.
