Cobbetts advises on robotics deal
LAW firm Cobbetts in Yorkshire has advised Robotic Technology Systems, which makes robotic systems for industrial and scientific use, on a deal to sell off the core of its operations to Congleton-based Entologi.
The firm has sold the assets via group company RTS Life Sciences (RTSLS) for £600,000 after gaining approval for the deal from shareholders at a general meeting last Friday.
Cobbetts’ Leeds-based partner David Armitage said: “The acquisition of RTSLS will allow Entologi to expand its service and product offerings to key industrial markets, and further grow its business internationally through synergies between existing group companies.
“We are delighted to have been able to assist in unlocking engineering investment opportunities, not just for RTS and its shareholders but also for Entologi.”
RTS’s former parent will retain its stockmarket listing and has cash resources of around £1.6m which its slimmed-down board plans to invest in buying “industrial businesses with defensible technologies and sustainable competitive advantage”. It has changed its name to Hephaestus Holdings and will also continue its long-running legal dispute with German yoghurt giant Muller – a case which is not expected to resolve until next year.
Congleton-based Entologi is a private group that was created in 2010 .Its businesses serve a diverse range of market segments from industry, life science, pharmaceuticals and aerospace to entertainment.
Entologi’s existing group companies include HMK, a supplier of drive automation products, and air conditioning systems firm Specific Solutions.
