ICON has advised the management and shareholders of RF Engines Limited (RFEL) on its sale to Rheinmetall AG.
RFEL is an electronics design company specialising in digital signal processing, and develops high specification signal processing cores, system on chip designs, and FPGA-based board solutions for applications in the defence, communications and instrumentation markets. These applications included base stations, wireless and wireline broadband comms systems, satellite communications systems, as well as defence signal intelligence and surveillance systems. The company is located on the Isle of Wight.
Düsseldorf based Rheinmetall AG has 20,900 staff and annual sales of €3.9 Bn, and comprises two business segments – Automotive and Defence. The Defence group under which RFEL is now operating, is one of the largest defence technology suppliers in Europe with 9,200 staff worldwide and annual sales of €1.8 Bn.
“We did consider a number of potential advisers, but from the outset we were very impressed by the pragmatic and professional approach of ICON. This was demonstrated to an exemplary standard throughout the lengthy discussions and negotiations and Alan and Eddie were hugely constructive and supportive at all times.
All deals have their individual characteristics, and I’m sure that this one had more than its fair share of twists and turns – so all the more credit to the ICON team – that they were able to successfully guide us through the intricacies of the process!”
John Summers, CEO, RF Engines