SCS

Our Corporate Finance team successfully advised SCS Engineering Limited (“SCS”) on its sale to Systemair AB (“Systemair”).

SCS provides smoke control solutions, building management systems and post-installation services for its customers. SCS has its head office in Cardiff, an assembly plant in Dorset and offices in London and Portsmouth. With 57 full time employees, SCS had revenues of approximately £12 million in 2022.

Systemair is a leading ventilation company in Europe that manufactures and supplies HVAC products, as well as fire safety products. Operating across 52 countries, it had sales of £905m in the 12 months to 31 January 2023, and has been publicly listed on the Nasdaq OMX Nordic Exchange in Stockholm since 2007.

Our Corporate Finance team led by Director Thomas Edwards and supported by Senior Associate Charlie Lesbirel, acted as the lead advisor on the acquisition, having previously acted for SCS on its MBO in 2018. The team managed all communications, negotiated the terms of the deal with Systemair and directed the process through to a successful completion.

The acquisition of SCS will provide Systemair with greater experience in designing, assembling, commissioning, and servicing complete smoke control solutions that will further strengthen Systemair’s position in both the residential and commercial sectors. As new regulations come into effect in the UK in 2023, SCS is well-positioned to capture business opportunities in both renovation and new installations of smoke control systems.

Thomas Edwards, FRP Corporate Finance Director said: “We have worked with SCS since 2017, and it’s great to see the plans the organisation had back then come to fruition – it’s a prime example for anyone looking at succession planning in Wales. SCS is a market leader in its field in the UK, and this transaction will help with the next stage of growth both in the UK and in Europe.”

Christopher Jones, Managing Director at SCS, added: “The Systemair acquisition provides an exciting opportunity and new chapter for SCS as part of Systemair. FRP’s support and advice throughout the process was instrumental in delivering the best outcome for all of SCS’ shareholders. Since we first engaged with FRP five years ago to advise on the MBO, the FRP team has continually delivered an exceptional service and I would highly recommend FRP to anyone considering succession planning for their business.”

Legal advice to the Shareholders of SCS was provided by Paul Evans, Ellen Lewis and Caitlin Rees at Berry Smith.