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07/06/2004

GE Commercial Finance funds Datalink Electronics' Quasson acquisition

GE Commercial Finance Ltd. (GECF Ltd.) has provided funding for a transaction through which Loughborough electronics manufacturer, Datalink Electronics Ltd, successfully acquired Andover-based Quasson from Autocue Ltd in a trade and assets deal.
The financing provided by GECF Ltd., a leading UK provider of business finance solutions, enabled the acquisition and provided Datalink Electronics with ongoing working capital headroom. Tenon Corporate Finance, East Midlands, served as adviser for the transaction.
Datalink manufactures high quality, high technology electronic assemblies in the low to medium volume markets dedicated to military, scientific, medical, oil and gas and environmental sectors. Quasson operates in the growth sectors of broadcast electronics and communications and will become a sole subsidiary of Datalink.
Commenting on the deal, Neil Kindness, Director at GECF Ltd, said: "Datalink is an attractive business for GECF Ltd to fund, having historically operated successfully in a growing market. Quasson is a complementary acquisition allowing Datalink to grow even further."
Ian Wilson, Director of Datalink, said: "Acquiring Quasson is a great move for us and, courtesy of GECF's funding we can look forward to continued success and further growth in our chosen markets as well as exploring opportunities in new markets."
Raj Sinhal, Director of Tenon Corporate Finance, added: "We were delighted to work with GECF Ltd to find a successful solution on Datalink's behalf and look forward to seeing the business develop in its chosen markets.”
(GB)
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