Evolve Corporate Finance, the national M&A advisory practice headquartered in Birmingham, has successfully advised the shareholders of Fundamentals Limited on its sale to private equity-backed EA Technology.
Fundamentals, founded in 1994 and headquartered in Swindon, is the UK’s premier provider of voltage control solutions, solving voltage control problems and improving the health and performance of electrical grids, particularly as networks transition to accommodate low-carbon technologies. They are spearheading the shift to a software-first, platform-led model, integrating best-in-class hardware and software solutions.
EA Technology, founded in 1966, is a global leader in deploying data-driven solutions for electrical networks serving the electricity industry. With headquarters in Chester, its operations and customers are global, with four regional offices around the world.
The deal will see Fundamentals become part of EA Technology’s wider group and will enable the business to grow its brand, whilst continuing to supply and develop voltage control equipment and engineering services that help electricity networks tackle some of the sector’s biggest challenges. Together, EA Technology and Fundamentals will offer customers a seamless, integrated solution – from primary substations to low-voltage feeders.
Fundamentals will continue to operate from its headquarters in Swindon and from its site in Oldham in the UK, and all members of its board will continue to be part of the business.
An advisory team at Evolve Corporate Finance, led by Tom Hammond, partner, Jonathan Wright, partner, and Justin Sparks, partner, provided strategic advice to the shareholders of Fundamentals, negotiating terms, providing project management support, and leading a complex due diligence process to maximise value. Tom and Jonathan were supported by Dan McCartney, manager.
WHAT OUR CLIENTS SAY
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“It has been a pleasure working with, advising, and supporting the shareholders of Fundamentals on this pivotal transaction. Our experience and expertise enabled us to structure a deal and deliver an outcome that the shareholders and business fully deserve. The strategic partnership with EA Technology, backed by Summa Equity, will put Fundamentals in a truly impressive position in its market and enable it to capitalise on the success and innovation it has delivered to date.”
Evolve Corporate Finance
Tom Hammond, Partner
“The sale to EA Technology and joining their wider group is a pivotal moment in our journey, which will enable us to continue to thrive as a business. I am so pleased that we chose Evolve Corporate Finance to help us navigate the process and secure a wonderful deal for the business. They came highly recommended and certainly vindicated this with their exceptional knowledge, experience, continuous support, and positive attitude throughout the project.”
Fundamentals
Jon Hiscok, Shareholder and CEO
“This strategic acquisition is a game-changer. Having the Fundamentals brand and expertise in our portfolio enhances our value proposition to customers, builds our innovation pipeline, and strengthens our capability to help drive the global energy transition.”
EA Technology
Amanda Mesler, Executive Chair
The deal team
Who made it happen
Tom Hammond
Partner
Justin Sparks
Partner
Jonathan Wright
Partner
