Founded in 1956, TEEL manufactures a broad spectrum of parts in a variety of materials for the automotive, aerospace, pharmaceutical and food industries. Services include CNC milling and turning, surface and cylindrical grinding and wire erosion, CAM facilities and CMM inspection for clients such as Cosworth, the University of Warwick, bf1systems and GE Power.
Commenting on the acquisition, Stuart Lawrence, Co-Founder of TEEL said: “As we head into our retirement, it’s been crucial for us to hand our business over to a suitable and trustworthy buyer. Through our succession planning and following the advice of the team at Azets, we were able to ensure that TEEL was purchased by a familiar forward-thinking company, that would sustain the growth trajectory of the firm.
The Azets’ corporate finance, accounting and tax teams ensured the deal to TJMS was a seamless transaction, which has been imperative to allow for business as usual during the process.”
Gary Hyem, Corporate Finance Partner at Azets in Birmingham added: “It has been a pleasure to act on behalf of Stuart and Annette of Tooling and Equipment Engineers to agree on a deal to secure the future for the company with an ambitious engineering group. We wish the teams at TEEL and TJMS all the best and look forward to following their success.”
Stuart & Annette Lawrence of TEEL were advised by Azets Corporate Finance (Gary Hyem & Pawan Kandel), Azets Tax (Mark Brayshaw), Azets Accounting (Rob Anderson & Duncan Robertson), as well as legal advice by Pickerings (Keri Pointon). TJ Manufacturing Solutions Limited was advised by Daniella Tarbuck of Rutherfords LLP.
