Pinsent Masons advises on £32.5m deal

THE Birmingham office of law firm Pinsent Masons has advised electronic communications group Vislink plc and Vislink Holdings Ltd on the £32.5m sale of one of its subsidiaries.

US-based Cooper Industries has opted to acquire Hernis Scan Systems to improve its technology portfolio.

Vislink specialises in secure communications and services for the news & entertainment and law enforcement & public safety markets. The company has three international business units serving these markets with manufacturing operations in the UK and the United States.

Hernis designs, manufactures and sells CCTV systems and provides wireless power products for both on and offshore oil and gas installations worldwide and for oil and gas transport vessels, and the marine, cruise, naval sectors.

Based in Norway, Hernis’s product range includes explosion proof camera stations, thermal camera stations for ice-detection as well as crane and submersible solutions.

The Pinsent Masons team was led by corporate partner Andrew Hornigold, assisted by Emma Callow, Emma Metcalfe and  Katie Farrelly.  

Mr Hornigold, who specialises in technology focussed M&A work, said: “The Hernis transaction is further evidence of growing confidence in the international M&A market for UK Technology companies which we have seen picking up since the middle of 2010.

“Quality assets continue to attract interest from overseas buyers such as Coopers Industries.

“It is also a good example of the sort of sector focussed, international transaction that clients such as Vislink regularly entrust to the team at Pinsent Masons. We look forward to working with Vislink management on the next stage of their plans for the business.”

The deal is further evidence of Cooper Industries’ ambitious growth strategy, which is seeking to add value to the group through acquisition.

In October the group won the fight to take over Mount Engineering in a £19.23m deal which has seen the firm take on the ownership of Black Country engineering subsidiaries Redapt Engineering and Raxton.