Harwood Private Equity acquires APC Technology Group plc for £18.3 million

06 November

Harwood Private Equity, the business name of the private equity arm of Harwood Capital LLP, has completed the public-to-private acquisition of APC Technology Group plc (“APC”) after an all-cash recommended offer, via a court sanctioned scheme of arrangement. Harwood Private Equity established and funded Specialist Components Limited to make the offer.

The offer price of 10 pence per APC share represented a premium of 17.31 per cent. to the six month VWAP prior to the announcement of the offer, allowing APC shareholders to exit their investment, in cash and in full, at an attractive valuation.

Harwood Capital LLP’s principal activity is the provision of discretionary investment management and advisory services.  It is authorised and regulated by the Financial Conduct Authority and is part of the Harwood Capital Management Group that, at 30 September 2019, had over £1.0 billion of funds under management.

Strand Hanson acted as Sole Financial Adviser to Harwood Capital LLP and Specialist Components Limited. The team was led by Stuart Faulkner and Matthew Chandler, with support from James Dance and Jack Botros.

Jeremy Brade of Harwood Private Equity commented:

“We are delighted to have acquired APC and very pleased, once again, to have had the support of Strand Hanson’s M&A Team on this transaction, as they have acted for us on the great majority of public-to-private transactions that we have undertaken.”