Boewe Systec GmbH is a leading supplier of smart automation systems, owned by Possehl & Co. mbH, a German based group of industrial companies. The acquisition of Red Ledge Limited, a provider of technology-led logistics solutions expands Possehl's logistics capabilities. This transaction is the second where the Midlands Transaction Services team has supported Possehl in investing in the UK.
"It was the second time that the Midland team of BDO support us in an acquisition of a UK target and it was the second time that we were fully satisfied with their approach.
While very pragmatic and focused on our needs, they were also able to guide the sellers and founders of the target through the acquisition process. Their share to a very smooth, swift and friendly transaction was much appreciated.”
Dr Henning von Klitzing
Member of the Executive Board, L Possehl & Co. mbH
"BDO were appointed as Bowe Systec’s(Possehl) team as part of the process of acquiring Red Ledge Ltd(RLL) for the purposes of carrying out the financial DD of RLL. As owners of RLL, the act of being acquired is a ‘once in a lifetime’ event so we had no real understanding of what was required from us and went in to the process believe int would be a very intense and sometimes negative experience.
From the start BDO put us(RLL) at ease by patiently explaining every step of the process they would require from us. They worked very closely with both the Directors of RLL and our own financials team. At all times, David, Tom and their team, were friendly, courteous and professional whilst maintaining a level of thoroughness that allowed the process to be completed as efficiently as possible. They fully understood that though the job had to be done as quickly as possible that we had to ensure the health of RLL was not impacted by too aggressive timelines and worked with us to ensure both parties were satisfied.
We at RLL have heard horror stories around being acquired and can safely say that our experience was far from that due to the way BDO worked with us to ensure a successful acquisition."
Andy O'Donnell, Director, Red Ledge Limited