The Corporate Finance and Transaction Taxes teams at Johnston Carmichael recently acted as lead adviser to the shareholders of CR Encapsulation (“CRE”), a UK-based designer and manufacturer of subsea connectivity solutions, in its sale to Trexon, a leading provider of specialty connectivity solutions for mission-critical applications backed by US private equity firm Audax.

CRE designs and manufactures a range of all-metal shell connectors, fibre optic products, strain terminations, penetrators and junction boxes for extremely heavy duty use and are trusted in the most rigorous underwater applications on the planet from splash zone to full ocean depth. The business was founded in 2002 and employs approximately 80 staff in Aberdeen, Scotland.

Trexon is a leading designer and provider of high-performance wire, cable, connectors, assemblies, and accessories used in harsh, high-cost-of-failure environments. Trexon’s products are specially constructed for a wide range of design challenges across high-reliability applications in diversified industrial end markets, defence, aerospace, cryogenic, space, medical, and other industries.

Graeme Coutts and Joe Murdoch, former shareholders at CRE, said:

“The Johnston Carmichael team helped us secured a highly successful outcome for the business. They delivered pragmatic, commercial advice throughout the process and we thoroughly enjoyed working with the team on this key strategic project.”

Gavin Weanie, Corporate Finance Director at Johnston Carmichael said:

“We are delighted to have assisted the shareholders of CRE on this transaction. The team have done a wonderful job developing the business into a manufacturer of scale that designs, builds and ships to blue chip customers all over the world. Together with the industry credentials of Audax, the future for CRE is exciting.”