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Lonsdale Capital Partners acquires majority stake in Oteac

UK-based private equity firm Lonsdale Capital Partners has acquired a majority interest in Oteac Limited, the firm’s third deal in the last 12 months.

Oteac is a provider of integrated fire and safety services, both offshore in the oil and gas sector and onshore in the UK. 
 
The tougher regulatory environment has led to much stricter requirements on the company’s clients for Oteac’s engineering services.
 
Oteac was acquired by Sandy Brown in 2007 and Bill Hogarty joined in 2009.  Both will continue as directors and shareholders in Oteac.  Hogarty will continue as CEO of the company and he, together with senior management, will hold a significant stake.
 
Hogarty says: “We have a strong business model with a primary focus on customer service excellence, delivered by high calibre and committed personnel. The specialist nature of our business, delivering products, services and engineering in fire, safety and lifting and testing, provides us with a solid model on which to build for the next exciting chapter of our successful growth.”
 
Lonsdale’s David Gasparro says: “Oteac’s emphasis on top-end engineering solutions, its strong client focus and the scope and ambition of management to grow the business from a very successful platform are extremely attractive to us. We have had a good meeting of minds with Bill and Sandy.”
 
Banking facilities have been provided by RBS. Lonsdale represents a group of institutional and family office investors, which include Souter Investments. Lonsdale was advised by Anderson, Anderson & Brown, who initiated the transaction, and also by Dundas & Wilson.

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