Trade sale of Persides to ERA Technology

ERA Technology, a company owned by edif Group, is pleased to announce the acquisition of Persides Holdings Ltd, a Bristol based business providing engineering services and management support to the Defence and Energy sectors.

Persides principally works with the UK MoD, major prime contractors, publically listed companies and SMEs. Persides services are in demand where clients need to ensure the safety, reliability and availability of their critical assets.

The Persides management team of Steve Lancaster, David Brown and Mark Atton will continue to manage the business and lead the ongoing development and growth of the company as part of edif Group’s enlarged engineering consultancy division.

Steve Lancaster, Managing Director, Persides, commented: “We are extremely pleased to be joining forces with ERA. This positive move will provide exciting new opportunities for our employees and will enable Persides to realise its ambitious growth potential. ERA operates globally and across several market sectors in which Persides can provide complimentary services. ERA has a strong people-based culture, as does Persides, and this was a critical factor in our decision to take this major step forward.”

The sale process for the shareholders was led by Matt Eves, partner at Isca Ventures, and legal advice provided by James Thorpe at Clark Holt. Commenting on the deal Matt Eves said, ‘We have been working with the business since 2009 and are delighted to see the shareholders able to achieve an exit to ERA. This deal provides the team an excellent opportunity to be part of a fast growing business and will give strong continuity to customers and staff.”

Over the years we have worked with the partners at Isca Ventures on a variety of projects. Their deep understanding of our team and business has continually ensured success. During the recent company sale process they maintained competitive tension to drive an optimum deal structure for the shareholders, whilst balancing the position of the management team who were staying with the business. We were delighted with the outcome.

Steve Lancaster -MD, Persides Holdings