Ashtons advise Rockford Components in sale to AQ Group

Ashtons’ Corporate and Commercial team recently advised the owners of the electromechanical firm Rockford Components Limited (Rockford) on the sale of the company to AQ Group AB (AQ),  a Swedish-based Nasdaq-listed company.

Rockford is a leading manufacturer and supplier in the UK of wire harnesses and electromechanical systems to organisations within the defence, aerospace, and general sectors, which it services out of its premises in Rendlesham, Worksop and Salisbury.

Rockford Managing Director, Peter Lion, will be remaining with the company and will work with those from AQ to ensure that the long history, experience, and technical competence of serving the commercial customers of the company, and those in the defence and aerospace industries – remains as strong as ever.

Whilst AQ is based in Sweden, it also has a footprint throughout Mainland Europe, Scandinavia, North America, Central America, and South America and has offices in India and China. Rockford will now form part of AQ’s Wiring Systems business unit, which currently designs, manufactures, and delivers wire harnesses to industrial customers.

Peter comments: “We at Rockford see the deal as an enhanced opportunity for continued positive development of our facilities and to support future sustainable growth. We look positively on being part of an international group as it brings increased opportunities and synergies to broaden and strengthen our offering to our customers and thereby strengthen our competitiveness”.

Geoff Hazlewood and Craig Fiddaman, Partners in the Corporate and Commercial team at Ashtons, led the transaction. Craig said: “We have acted for the company for a number of years now, and it has been a pleasure to help the owners to achieve a successful exit.”

Geoff and Craig were assisted by Ashtons’ Commercial Property and Employment teams, with Greg McCurday, Ruth Burrell, Sophie Allinson, and Ebony Colton dealt with the property elements and Emily Dixon and Robert Hickford assisted with the employment aspects of the deal.

On the advice received from Ashtons, Peter said: “Craig and the wider Ashtons team put a lot of work into this deal to get it across the line successfully. At what is a very stressful time, we greatly appreciated the technical expertise and commercial experience of the team from Ashtons.

“Additionally, it was great to have the support of people who were so helpful in explaining and guiding us in a personable manner through a challenging timescale and were able to remove many of the usual formalities – a great team effort, thank you very much.”

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