MBO of Astek Group plc via Scheme Of Arrangement
9th June 2010
Zeus Capital are pleased to announce that they recently advised on the MBO of Astek Group plc that was led by the company’s CEO Alan Segal. Zeus Capital acted as financial adviser to the company.
The transaction was structured as a scheme of arrangement and resulted in shareholders of the company receiving cash consideration of 0.625 pence per share; equivalent to a premium of approximately 13.64 per cent. compared to the share price of the company immediately prior to the deal being announced. Following completion of the transaction the company has had its admission to AIM cancelled.
The Astek Group develops, sources and exploits new dental products for the global market. The Astek Group’s main areas of operation are the design of new dental products, arranging their manufacture and supply, and the distribution of disposable single-use items which the Astek Group has already developed. The Astek Group also produces and sells other generic dental consumables and acts as a UK agent for overseas suppliers of dental products. Astek was floated on AIM in October 2006 and Zeus Capital had acted as the Company’s NOMAD and broker since October 2007.