Deal Overview
- Lead adviser
- Cross-border transaction
- Listed international acquirer
- Defence & National Security sector
Momentum Corporate Finance LLP (“Momentum”) is delighted to announce the completion of its latest transaction, having advised the shareholders of Mabway Ltd (“Mabway”) on its sale to Calian Group Ltd (“Calian”, TSX: CGY), for an enterprise value of up to £24m (CAD $41m).
This transaction marks the second deal announced in two weeks for Momentum, having advised the management team of ATG on its reinvestment into Keyloop, backed by Francisco Partners, which completed on 1 May 2024.
Mabway is a leader in the management of large-scale defence role-playing environments that simulate real-world operational environments and provides technical engineering education for naval and maritime communities. The company has been a prime supplier to the British Army since 2012. Mabway has several offices across the U.K., a workforce of more than 1,000 ex-military and civilian permanent staff and contractors, and services reaching into Europe and the Middle East.
“We’re delighted to be acquiring a company that has such a strong offering that both complements and expands our current solutions in the military training and simulation sector. This acquisition presents a great opportunity to leverage the capabilities of both companies to provide a more comprehensive range of solutions to military and defence customers globally. And with the U.K. looking to increase defence spending to 2.5 per cent of GDP by 2030, Calian will be well positioned as a strategic partner supporting their operational readiness,” says Kevin Ford, Calian CEO.
The acquisition expands Calian’s existing presence in the U.K. and Europe, bolstering the company’s military training and simulation solutions portfolio in the region and presenting more opportunities for further global and customer diversification.
“The Mabway team is excited to be joining Calian,” says Mabway co-owner, Mark O’Reilly. “We take our corporate culture seriously and share Calian’s values of integrity, teamwork, innovation, respect and customer commitment. We are known for our unrelenting focus on providing mission-critical solutions for our customers and will be able to deliver even more effectively as part of the Calian team.”
The acquisition is effective immediately.
Osborne Clarke LLP provided legal advice to the shareholders on the transaction.
