IMV Europe Limited, part of Osaka based IMV Corporation which manufactures noise and vibration test equipment and has turnover of JPY 10.3 bn, has simultaneously acquired two businesses, £2.1m turnover Vibratech and £2.4m turnover CVMSL with advice from Martin Kennedy and Jeff Barber of BTG Corporate Finance in Manchester.
Listed on the JASDAQ securities market, IMV Corporation is the world’s leading supplier of high reliability vibration test and measurement systems. IMV Europe’s facilities include a technical centre at Letchworth from where it develops cutting edge test and measurement solutions.
Based in Hertfordshire, Vibratech is a specialist in the maintenance and repair of vibration test systems; and CVMSL provides vibration service repair, installation, refurbishment, and vibration and mechanical test systems. These two service organisations will be merged into a new company called 1g Dynamics which will benefit from the development and investment provided by IMV to create a world leading independent vibration service business.
John Goodfellow, managing director of IMV Europe, commented: “This is an exciting time for the business with the acquisitions adding a strong service capability to complement the high reliability vibration test and measurement systems manufactured by IMV.”
Jeff Barber of BTG Corporate Finance added: “Advising on these two acquisitions has been a great opportunity to work with a renowned global organisation. The new businesses are a perfect fit, strengthening IMV’s growth strategy going forward, particularly in Asian countries where they see huge potential for expansion.
“Having worked with John Goodfellow for many years, we respect his strategic business planning skills and have been pleased to support him once again. It has also been a very interesting and rewarding experience to work with members of the Japanese parent company and their advisers in ensuring that the acquisition met with all their requirements.”
Part of the Begbies Traynor Group, BTG Corporate Finance provides transactional support, valuations and advisory services.
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