FRP advises radio group on acquisition

Background

Founded in 1978, Brentwood Communications is one of the leading two-way radio companies, providing bespoke communication solutions to businesses across all sectors in the UK and internationally. Clients include the NHS, Premier League football clubs and a range of high-profile construction and security contractors. The company was aiming to expand further through the acquisition of Cambridgeshire-based Radio Links – itself a leading provider of two-way radio solutions, which has supplied Buckingham Palace, Windsor Castle, St James’s Palace and Kensington Palace for a number of years – and engaged FRP to lead on the acquisition.

Action

FRP’s Corporate Finance team supported Brentwood Communications throughout the transaction, approaching Radio Links’ shareholders, analysing its financials, formulating an offer, negotiating the Heads of Terms, and undertaking financial due diligence. The Pensions Advisory team were brought in at appropriate points of the transaction process to provide specialist input on managing the risks associated with the Radio Links defined benefit pension scheme.

Outcome

The successful acquisition will further accelerate Brentwood Communications existing capabilities while enabling the company to increase its expansion into events-led communications. The deal, which was structured with no external funding, provided a complete exit for the founding shareholders of Radio Links, while also adding a new strategic location for Brentwood Communications. It is the second time FRP has supported Brentwood Communications’ expansion through acquisition.