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Sepura to buy rival PMR radio manufacturer Teltronic for £94.2m

Radio manufacturer - UK two way radio solutions - SantanderCB

UK two-way radio solutions manufacturer Sepura is to acquire its Spanish rival Teltronic for Eur127.5m. Sepura is suspending its existing buyback programme and is funding the deal with £60.5m of new equity and loan facilities from Barclays, HSBC and Santander, according to a press report. Teltronic is understood to have been put up for sale by its private equity firm N+1 about a year ago and caught the attention of Sepura's CEO Gordon Watling. He said: 'This is a highly complementary and transformational acquisition which will be immediately earnings enhancing. It brings together two of the market's growing players, to create a market leading digital Professional Mobile Radio company, with a broader offering and significantly enhanced capabilities.'

 

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