Romsey: Chemring acquisition advised by Bond Pearce

Law firm Bond Pearce firm has advised Chemring Group plc, a global defence business, on its latest strategic acquisition.

Chemring has entered into a conditional agreement to acquire the entire issued share capital of Roke Manor Research from Siemens Holdings plc for a cash consideration of £55 million.

Roke, based in Romsey, UK, is a world-class engineering company that provides contract research, product development and low volume production for a wide range of UK and international customers. It is a leading developer of advanced sensors, signal processing, communications and network solutions for the Countermeasures, Counter-Improvised Explosive Device (Counter-IED), Counter-Terrorism and industrial markets.

Bond Pearce corporate finance partners Stephen Pierce and Sebastian Briggs led a multi-disciplinary team of lawyers in advising Chemring through the bid process to exchange, over the past three months. Completion is expected within 60 days.

Stephen Pierce, Chemring relationship partner at Bond Pearce, commented: "Chemring is a key client and we have a long standing relationship with them. We are delighted to be working with Chemring on this significant acquisition, which is another milestone in its impressive growth over recent years."

Commenting on the acquisition, David Price, chief executive of Chemring, said: "The acquisition of Roke will substantially enhance our existing technologies in a number of our key market sectors and will provide a growing number of products and technologies that will allow the Group to enter adjacent attractive, high growth markets. I am delighted that all of the existing highly successful Roke management team will remain with the company."