Mills & Reeve has advised the management team of bf1systems and growth capital investor BGF on the sale of the business to Lagercrantz Group AB, a technology group focused on niche markets.
Founded in 1994 and headquartered in Diss, Norfolk, bf1systems is a leading designer and manufacturer of high-performance sensing, measurement and integrated electronics solutions. The company's products are used across the motorsport, automotive and aerospace sectors, including Formula 1, IndyCar and the World Endurance Championship.
BGF invested in bf1systems in 2019 to support the company's growth strategy. During that period, the business expanded its product portfolio, strengthened its customer relationships and completed the acquisitions of KA Sensors and VPG Sim, further enhancing its capabilities and market reach.
Lagercrantz has acquired a majority stake in the business, with bf1systems becoming part of the group's Control Division, which specialises in products and solutions for control and measurement. Managing Director James Welham and Business Development Director James Shingleton will retain a minority shareholding and continue to lead the business.
James Welham, Managing Director at bf1systems Ltd, said:
“Mills & Reeve provided exceptional support throughout Project Silverstone. Their team combined strong legal expertise with pragmatic commercial advice, remaining responsive, professional and solutions-focused at every stage. They were instrumental in helping us successfully complete a complex transaction, and I would highly recommend them to any business seeking corporate legal support.”
James Hunter, Partner at Mills & Reeve, said:
"It has been a pleasure to have advised the management team and BGF on this transaction. The acquisition is an important milestone for bf1systems and reflects the strength of the business, its technology and its leadership team. We wish everyone involved every success as the company enters its next phase of growth with Lagercrantz."
The Mills & Reeve team was led by corporate partner James Hunter.
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