06 october 2022
The Midlands team of leading audit, tax and consulting firm RSM UK has advised on the corporate carve out and sale of Casella Holdings Limited, a subsidiary of IDEAL INDUSTRIES, INC. (IDEAL), to TSI Instruments Ltd.
Established in 1799 and based in Bedford, UK, with a presence in the US, China and India, Casella is a global leader in the occupational hygiene and environmental monitoring market. It manufactures a range of test, measurement and monitoring equipment, used to identify occupational and environmental hazards to ensure the safety of workers.
The sale is a strategic divestiture of a non-core asset by IDEAL, a global manufacturer of professional electrician products, high power density connectors and superior charging systems, to TSI Instruments Ltd, a subsidiary of Minnesota-based TSI Incorporated, an industry leader in the design and production of precision instruments.
RSM’s M&A and due diligence team supported the preparation of the carve out financials and a financial factbook, identified suitable purchasers, negotiated all aspects of the deal and project managed to completion on behalf of IDEAL INDUSTRIES, Inc. The transaction was led by corporate finance partner Helen Brocklebank, with support from Oliver Currie, Mikey Goodwin and Louise Berrie; while Phil Parkes, Thomas Sinden and Jake Mallet provided due diligence advice.
Helen Brocklebank, corporate finance partner and head of M&A in the West Midlands at RSM UK, said: ‘TSI’s acquisition of Casella will deliver a market leading portfolio of occupational health and safety products. This transaction will enable both parties to provide innovative and ground-breaking solutions for customers and accelerate Casella’s ambitions to enter new markets.’
Doug Sanford, Senior Vice President at IDEAL INDUSTRIES, INC., commented: ‘IDEAL is committed to growing our core business and is pleased to find such a great buyer for Casella. TSI’s synergies and closely aligned strategic initiatives make this an exciting transaction for all parties.’