Spirit Circuits acquires Aztec Circuits

Zenon are pleased to announce the acquisition of Aztec Circuits Limited by Spirit Circuits Limited.  Spirit is a leading player in the printed circuit board (PCB) industry and this acquisition allows expansion into new product areas.

Commenting on the deal, Zenon’s Lesley Carrington said “We worked with Steve Driver, Managing Director of Spirit Circuits, to structure a deal which allowed the shareholders of Aztec to retire from the business. Then, once the terms of the deal were agreed, we delivered the transaction within the two week timeframe stipulated by both parties.”

Zenon’s Transaction Services team project-managed the transaction for Spirit Circuits, as well as carrying out accounting and taxation due diligence. The team worked closely with legal advisors Vertex Law LLP to successfully deliver the transaction.

The acquisition has allowed Spirit to expand their team through securing a highly skilled workforce at Aztec and it consolidates their position as a leading UK PCB supplier.

Advisors to Spirit Circuits Limited

Financial and Tax Due Diligence, Deal Management:  Richard Price and Lesley Carrington, Zenon Transaction Services Limited

Legal: Nick Austen, Vertex Law LLP

Advisors to Aztec Circuits Limited

Legal:  Neville Watkins, Bolitho Way

Financial: Morris Crocker

we delivered the transaction within the two week timeframe