Privatisation of British Ceramic Research Limited

Deal typeM&A
IndustryBusiness Services

BDO Mergers & Acquisitions has advised on the sale of British Ceramic Research Limited (“BCRL”) to Beechfields (Stoke) Limited in a ground breaking transaction. BCRL a company limited by guarantee, comprises a group of companies including Lucideon whose principal activities are applied materials development, testing and consultancy. BCRL originally started as a scientific research organisation set up to pool industry knowledge with funding being provided by the government for particular research. As the government funding declined it expanded its commercial business and is now seeking to expand its research into other sectors as part of its growth strategy. Its legal structure however has restricted its ability to raise equity finance prior to the Beechfields transaction.    

Beechfields, a company owned by the management and employees of BCRL, acquired BCRL by way of a Court sanctioned scheme of arrangement approved by BCRL members. As part of the scheme the members will be entitled to become technology partners. Alongside Mergers & Acquisitions advice, BDO also provided valuation services and together this ensured that the scheme met the rigorous standards required of the Court.         

“BDO delivered a high quality service supporting the board of BCRL throughout the very complex and challenging process. We would have no hesitation in recommending BDO following this experience.”           

Tony Kinsella, Chief Executive