News
29 April 2008
Beswicks advise on sale of Phoenix Dynamics Ltd
Beswicks Solicitors acted for the sale of Phoenix Dynamics Limited to FTSE AIM listed Southern Bear plc.
Phoenix Dynamics, established in 1994 and based in Kidsgrove, supplies interconnection solutions to the defence, automotive, rail, nuclear and control systems industries.
Prior to the sale, Phoenix Dynamics won a further contract with the US Army worth US $1 million for the supply of diagnostic kits for the new M777 155mm lightweight field Howitzer made by BAE Systems.
Southern Bear believes the transaction is complementary to the company's existing business which also includes Burslem based BGC Limited. The acquisition of Phoenix Dynamics will provide greater depth to its industrial division, further expanding its sector diversification and as such is in line with the company's stated acquisition policy.
For further information contact Simon Woodings or Anne Scheland on 01782 205 000.
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