As announced recently, Houghton International has been acquired by US-based Integrated Power Services, backed by Searchlight Capital, in a deal which is being hailed as exciting news for the North-East region.

Houghton is a leading electromechanical services provider with a global reputation for excellence.  The acquisition represents a strategic platform for the US market-leader’s expansion plans into the UK and European markets.  It can now be revealed that the support and teamwork of specialist North East advisers was key to the successful transaction.

The specialist Newcastle M&A boutique, WilliamsAli Corporate Finance acted as the lead adviser for the Houghton shareholders, with its team including co-founder Phil Williams, supported by Lucy Elliott and Tristan Woolcock.  Legal advice was provided by Adam Rayner and Sophie Cragg at Muckle LLP, with tax advice provided David Ward at UNW.

“After 40 years of family ownership, it was important to me for this transaction to be led by the very best advisers who would understand our values while bringing the technical expertise to handle the complexities of a cross-border, private equity transaction.  It helped that the North East region is fortunate to have world class advisers here on our doorstep.  We started working with WilliamsAli last year and the team has been outstanding throughout the process, while the legal and tax advice from Muckle and UNW was of the consistently high standard that I have come to expect over the years,” said Michael Mitten, CEO of Houghton.

“Houghton International has a highly skilled workforce and a fine tradition of developing young North-East apprentices.  It is great news for the region that IPS will continue to invest in growth and build on the strong foundations created by the Mitten family, who have contributed so much to the local economy and leave behind a proud and rich legacy.  WilliamsAli are delighted to have worked alongside our colleagues at Muckle and UNW to deliver a successful transaction for all involved,” said Phil Williams, co-founder of WilliamsAli Corporate Finance.

David Ward, Corporate Tax Partner at UNW commented: “We are delighted to have supported Michael and his team at Houghton International on the successful sale of the company. As one of our long-standing clients, it has been a pleasure to help Michael fulfil his ambition and achieve an outcome that will enable the business to continue to grow and expand its offering to new customers and markets.”