Tue, 28 Feb 2012 | DIVISION SALE
Leicestershire-based LMW Electronics has sold part of its business to global security firm Digital Barrier and, in doing so, has effectively saved 15 jobs.
The £450,000 deal involved the transferral of LMW’s designs for its surveillance manufacturing operations to Digital Barrier. Andy Breeze and Micky Johal, accountants at RSM Tenon, acted as advisers on the sale.
The sale was motivated by a fall in orders from the Government. Post-sale, LMW is to continue to make and maintain surveillance equipment for Digital Barriers.
Owner and chairman of LMW Chris Smith said the deal has helped to secure 15 jobs, and that: “It’s a great opportunity for us. What might have started out as a full acquisition has ended up as a partial acquisition.”
“We are still manufacturing the products for Digital Barriers, but there is now the capacity for new sales being much better because the work is dovetailed into a larger company with a larger salesforce,” he told This is Leicestershire.
Established 27 years ago, LMW began by designing electronics for the amateur radio market. It has gone on to achieve sales of £1.5 million for 2010.
London-headquartered, Digital Barriers was set up in 2009 to provide surveillance technology to the international homeland security and defence markets. It also has many offices around the world.
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