Buzzacott have provided financial and tax due diligence and transaction advisory services to Dean Curran on his acquisition of Active-PCB Solutions Ltd.

Overview of the deal

We are delighted to announce Dean Curran’s acquisition of Active-PCB Solutions Limited. This is the third UK acquisition by a Novastone Capital Advisors (NCA) entrepreneur, and the second acquisition by Dean Curran having completed the acquisition of Garner Osborne Circuits Limited in July 2024. This deal cemented the creation of a new group of side-by-side businesses with the two companies, creating a leading printed circuit board (PCB) manufacturing, PCB assembly, and electronics manufacturing services (EMS) group. The Buzzacott team provided financial and tax due diligence, transaction advisory and structuring services, leveraging their experience from the previous Novastone transactions to ensure as smooth a process as possible.

Who are the firms involved?

Since 1997, Active-PCB have been specialists in the assembly of printed circuit boards. They provide highly flexible, tailored services to meet unique requirements and have expertise spanning various industries including defence, aerospace, communications and healthcare. Founded in 2019, NCA is a global firm focused on solving succession challenges faced by small- to medium-sized enterprises (SMEs) through its Operator-led Search Fund Programme. This specialised Entrepreneurship Through Acquisition (ETA) programme facilitates connections between investors and skilled mid-career entrepreneurs seeking to identify, acquire, manage, and expand privately held SMEs. The Programme is designed to create mutually advantageous outcomes for all involved parties. Searchers benefit from NCA‘s support and partnership, enabling them to transition directly into owning and managing a business. Existing business owners find an optimal solution to succession with experienced, funded entrepreneurs that proudly continue their company’s legacy and growth. Co-investors are presented with sound investment opportunities with historically high rates of success.

What we liked about this deal

At Buzzacott we very much enjoy the level of involvement Search Fund transactions require. A comprehensive array of services was provided including transaction advisory, financial and tax due diligence. We worked closely with Dean throughout the process to ensure a successful outcome was reached. This deal is also a great example of the benefits of NCA’s unique model, with the investor access enabling the completion of back-to-back deals in quick succession. The financial due diligence/transaction team was made up of Alex Judd and George Thresh. The tax due diligence team was made up of Alastair McQuater, Kam Chauhan, Nicholas Lee and Kazia Kruszewski.

"It was great to work with the Buzzacott team and their specialised ETA offering, headed by George again. They showed technical expertise and appreciated the nuances of this particular transaction to ensure an excellent outcome was achieved."

- Dean Curran (Novastone searcher and incoming Garner Osborne CEO)