Primary backs management buy-in of Guralp Systems
Primary is pleased to announce its backing for the management buy-in of Güralp Systems Ltd (“Güralp”) in a GBP20 million funded transaction. The deal represents Primary’s seventh investment from its current Primary III fund.
Güralp, based in Aldermaston, is the global leader in the design and manufacture of broadband seismometers and complete seismic systems, with an international client base spanning over 50 countries. The company supplies the widest range of seismic devices in the market including land-based, ocean-bottom and borehole instruments. The devices are used for a number of applications, including early warning of impending earthquakes, volcanic eruptions and tsunamis. Founded by Dr Cansun Güralp in 1985 to produce high quality research and monitoring systems, the firm has grown steadily as a result of its excellent reputation within the industry and is now looking to exploit new commercial markets including energy, security and civil engineering.
Primary was awarded exclusivity after a competitive process and worked with Dr Güralp and Tony Wall, the incoming Managing Director, over several months to structure the deal and assemble the rest of the management buy-in team. Tony Wall is joined by Andrew Bell as Finance Director and Martin Perry as Chairman. Primary was attracted to the opportunity by Güralp’s global market leading position, the quality and range of its products and the significant opportunities to develop new markets. Primary was also convinced by the impressive track record of Dr Güralp and his team in creating a successful, innovative and profitable business and by the credentials of the management buy-in team.
Contact Jackie Adams for more information
Tel: +44(0) 20 7920 4800