Smith & Williamson advises TMD Holdings Limited on its sale to Communications & Power Industries
TMD Holdings Limited (“TMD”) is a world-leading designer and manufacturer of technologically advanced microwave, radio frequency and high voltage equipment for radar, electronic warfare, communications, medical, EMC testing and scientific applications.
Smith & Williamson worked with the shareholders of TMD to deliver a successful sale to Communications & Power Industries (“CPI”). CPI is a global manufacturer of electronic components and subsystems focused primarily on communications and defence markets. TMD brings new products and technological capabilities to CPI’s established portfolio of electronic components and subsystems.
Amanda Phillips, Director at Smith & Williamson, led the transaction supported by Joseph Sherry and Zach Francis, with further support from Oaklins’ Aerospace and Defence experts Stephen Perry and Jason Kimball. Amanda Phillips said “the shareholders of TMD were keen to find the right partner for the business to support the next phase of its growth and development. The addition of TMD to CPI will provide customers broader capabilities and more comprehensive solutions for radar, electronic warfare, communications, EMC testing and related applications.”
Peter Butcher and Howard Smith, joint shareholders of TMD said “appointing the Smith & Williamson and Oaklins team was crucial in running an international process. The hands-on approach and deal experience was key to overcoming challenges during the process and the team always went the extra mile to help us achieve our objectives. The shareholders are very pleased with the outcome and wish the parties well for the future”.
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