Cowgills advise Scorpion on a leveraged buyout

Cowgills corporate finance and tax teams have advised Scorpion on their external fundraising, devising the transaction structure for a leveraged buyout.

Scorpion, a leading telematics specialist within the automotive industry, designed, manufactures and supplies an IP-owned product range to a multinational client base.

Having worked with the shareholders of Scorpion for many years, partner James Kennedy, corporate finance manager, Richard Hunter and tax partner Georges Daubney completed the deal for an undisclosed sum this week.

The deal, which sees previously minority shareholder, Mark Downing, increase his shareholding to a majority at Scorpion, will create significant opportunities for the telematics specialist to continue its growth.

Commenting on the deal, James Kennedy said: “Cowgills is delighted to support our long-standing client to achieve their great ambitions, which now provides the platform for significant value creation.

“Scorpion is one of the leading telematics specialists with over 100,000 subscription trackers underpinning a high quality of earnings. The strong management team are confident in delivering great success in the coming year and we look forward to continuing our very successful relationship with them.”

Mark Downing, Chief Executive Officer at Scorpion added: “I am delighted with the exceptional corporate finance support we received from Cowgills during the completion of our Leveraged Buyout process. The expertise, dedication, and unwavering commitment displayed by the corporate finance team were instrumental in ensuring the success of this intricate transaction.

“From the initial stages of structuring the deal to the final execution and beyond, the team exhibited an unparalleled level of professionalism and knowledge. What set this corporate finance team apart was their personalized approach. They took the time to comprehend our unique goals, challenges, and vision for the future of the company. This not only facilitated a tailored financial strategy but also instilled a sense of partnership, as if they were an integral part of our management team.

I wholeheartedly recommend their services to any organization considering an MBO or any complex financial endeavour. Their expertise, professionalism, and dedication are truly second to none, and we are grateful for their instrumental role in making our MBO a resounding success.”