27 April 2008
BDA advises Nova Capital Management on the divestment of Detector Technology Limited and minority stake in Sprue Aegis
Divested 100% of Detector Technology Ltd.
Business Development Asia LLC (“BDA”) has advised Nova Capital Management (“Nova”), the specialist acquirer of corporate and private equity portfolios, on two divestments.
Nova has sold Detector Technology Limited (“DTL”). DTL, based in Hong Kong and Shenzhen, China is the leading supplier of radioactive components used in smoke detection products and also supplies complete smoke detectors. Nova has also sold a shareholding of approximately 17.1% in Sprue Aegis, an Ofex+ listed company.
The sale of DTL completes Nova’s sale of the QSA Group of companies. The QSA Group companies were specialized suppliers of sealed radioactive sources for use in process control, analytical instrumentation, oil well logging, radiation instrument calibration, nuclear medicine applications, and processing and disposal of low and medium activity waste. QSA Group companies were part of a portfolio of nine non-core businesses acquired from AEA Technology plc in October 2005 by CIP Industries, which Nova has advised since inception.
In a single transaction, Nova enables corporate and financial sellers to successfully unlock their holdings in a portfolio of companies. Established in 2002, and with a 20 strong team, Nova has acquired or taken over the management of portfolios representing a total transactional value of over 900m Euro. Nova currently manages investments in over 30 businesses primarily operating in Western Europe and the US, across a broad range of sectors
About Business Development Asia
BDA is a leading middle market M&A adviser, focused on cross border transactions. BDA assists multinational corporate and financial sponsor clients to identify and execute acquisitions, divestments, JVs, restructuring and to raise capital, in Asia and internationally. The company is headquartered in New York with offices in London, Bahrain, Mumbai, Hong Kong, Shanghai, Seoul, and Tokyo. BDA employs 50 professional staff across its eight offices, supplemented by a team of senior advisors around the world. Further information on BDA is available at www.bdapartners.com.
For more information regarding this transaction, please contact Paul DiGiacomo in Hong Kong on (852) 2537 9565.
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