Advisers to private business, Cooper Parry, have advised on the sale of Salem Automation Ltd to Norwegian Hitec Industries.
UK-based Salem Automation is an independent systems integrator, providing control systems and automation services predominantly to the oil and gas industry. Salem has a range of innovative safety and control products, including a unique personnel tracking system for use in hazardous areas such as offshore oil platforms. Since its inception 20 years ago, Salem has developed a strong reputation within the oil and gas industry.
Salem Automation is an important part of Hitec Industries’ strategy of creating a large international player in the area of control systems and electrical drives. Frode Berg, President and CEO of Hitec Industries said "By acquiring Salem Automation we are adding a company with interesting growth prospects and strong engineering capabilities to our portfolio. We look forward to developing and expanding the company in the years to come."
Cooper Parry Corporate Finance provided a full lead advisory service to the vendors, lead by Sally Saunders. Sally said "This acquisition demonstrates our strong international search capabilities, and our ability to identify appropriate strategic buyers. I believe that the acquisition provides Salem with an ideal partner capable of taking the business to the next stage of growth".
Legal advice to the vendors was provided by Eversheds led by Stephen Kitts and Stephen Hill. Stephen Kitts said “We are delighted to have been involved in the sale of Salem Automation Ltd, a thriving UK company which has attracted attention for its huge growth potential. It was also a great opportunity to draw on our experience of working in the Scandinavian market.