Family-owned manufacturer Valeport acquired by multinational Teledyne Marine

Valeport, a Devon-based marine technology company with clients worldwide, is to be acquired by leading-edge subsea technology company Teledyne Marine for an undisclosed sum.

The independent family-owned business, established in 1969, is recognised as a market leader in the design and manufacture of underwater sensors and profilers, employing more than 115 people at its riverside headquarters in Totnes.

For over fifty years, Valeport has designed and manufactured instrumentation for the oceanographic and hydrographic communities. Global demand for Valeport’s precision sensors and probes has continued to grow robustly, with the firm investing in new premises, production systems and staff over many years.

After 18 years at the helm, building the Valeport business, Matt Quartley felt the time was right for Valeport to join a larger organisation that had the ability to further support and grow Valeport’s business interests and provide additional career opportunities for the company’s employees.

Our family is very proud of where we have brought Valeport so far, but the time is right for the next phase of its journey.

A team at PKF Francis Clark, comprising Matt Willmott, Chris Bishop, Andrew Killick and Ben Slater, were lead advisors to the shareholders of Valeport on the sale of the business. Their role included managing the full sale process, from pre-sale preparation through to identifying potential buyers, transaction negotiation, due diligence support and tax structuring advice.

Matt Willmott, corporate finance director at PKF Francis Clark, said: “Valeport is a high-quality South West manufacturing business with an excellent team and a leading brand in its marketplace. Having worked with Valeport as a firm for many years, we were delighted to advise the shareholders throughout this successful transaction, which paves the way for an exciting future as part of the Teledyne group.”

Matt Quartley, managing director of Valeport, said: “Selling our family business wasn’t something that we entered into lightly, but having decided to do so, we are extremely grateful for the efforts made by the team at PKF Francis Clark to make the whole process as smooth as possible.

“From preparing the initial information memorandum and generating an international list of potential suitors, to facilitating discussions and site visits, as well as helping us decide on the right buyer and managing the negotiation process (not to mention all the advice and input on the financial aspects of the deal), Matt Willmott, Chris Bishop and the team were professional, responsive and reassuring throughout the whole process, making sure that we stayed focussed on the important elements and not allowing us to become distracted by relatively minor discussion points. I cannot recommend them highly enough.”

Mr Quartley and his leadership team will work with Teledyne Marine over the coming months to ensure a smooth transition for staff and customers.

He added: “Our family is very proud of where we have brought Valeport so far, but the time is right for the next phase of its journey, and I am so pleased that this will be as a part of Teledyne Marine. The prospect of working with the rest of the Teledyne group to bring our customers an even greater range of superb, high-quality products is something that we are incredibly excited about, and will undoubtedly be to the benefit of Valeport, Teledyne, and most importantly, all of our customers.”

Teledyne Marine is a group of leading-edge subsea technology companies that are part of New York Stock Exchange-listed industrial conglomerate Teledyne Technologies Incorporated. Valeport will play a crucial role in extending Teledyne’s range of advanced products and solutions supporting their global customer base.

Ole Søe-Pedersen, vice president and general manager of Teledyne Marine Europe, said: “We are delighted that Valeport will join Teledyne Marine and expand our technology offerings. Valeport is a respected and recognized brand of underwater sensors and profilers and will complement the Teledyne Marine portfolio of technologies and solutions.”

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