The disposal of the business was handled by Kevin Sullivan.
Kevin acted for 21st Century Technology Solutions Limited, owned by 21st Century Technology Plc which is listed on the AIM Market, in the disposal of its Datatool business to Scorpion Automotive Limited, based in Chorley, Lancashire.
Kevin commented: “I advised on the transaction which consisted of a sale of the business and assets of 21st Century’s motorcycle alarm and accessories business “Datatool”. The deal involved a complicated arrangement for the sale of the stock of the business, with various options and deferred payments. An interesting transaction which took a while to complete. This deal was important for the client as it completed the final stage in its focus to reposition the business towards CCTV.”
“[This] marks the final stage in our strategy to exit from our legacy businesses and reposition the group as a leading public transport CCTV and monitoring supplier.” Peter Ward, Chairman of 21st Century