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Exception EMS sold to Fabrinet

TLT has advised the management and shareholders of Exception EMS, a Wiltshire based specialist electronics manufacturing company, on its sale to US listed Fabrinet, a leading global electronics manufacturing provider. 

The TLT team was led by corporate associate Antonia Silvestri and included corporate partner Robin Staunton, employment Incentives partner Ben Watson and tax partner, Nathan Williams.

TLT's Antonia Silvestri said: "Exception EMS is an ambitious business. Our client has a strong EBITDA and a highly experienced management team, which will help Fabrinet implement its plan of being a global new product introduction service provider with offerings in USA, Asia and now Europe. 

"This strategic deal is also a positive step for the UK’s technology and manufacturing sector, not least because it demonstrates that, as dust settles over Brexit, investment opportunities are still there for the taking."  

Noel Murphy, CFO of Exception EMS said: "Robin and Antonia have been with us the whole way and been instrumental in finding the legal solutions to a number of structural challenges. Antonia, in particular, worked tirelessly to keep the activity on track despite the normal challenges that arise with international acquisitions. Any problems identified were always presented with a range of practical solutions. It has been a pleasure to work with the TLT team on this transaction due to their responsiveness and professionalism through the whole process.” 

In the past five years, TLT has acted on the separation of Exception EMS from its printed circuit boards division and its separate sale, on the implementation of a successful management share incentive scheme and on the MBO and exit of the institutional investor. The managers' sale to Fabrinet is the latest phase of a very successful turnaround, focused on good management and strategic market focus.

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