Posted on 8 Sep 2014

MK Test set for take-off following Synova’s investment

Michelmores has recently acted for MK Test Group Limited, a leading global provider of automated electrical test solutions to the aerospace, rail and oil & gas industries, in a £20m buyout.

MK Test provides software and systems used in the production and maintenance of all aircraft in the Airbus range as well as the Boeing 767, 777 and 787 models. The increasing use of electronic systems in aviation sector, and the order backlog in commercial aircraft, is leading to accelerating production schedules demanding automated testing solutions for efficiency and safety. MK Test also supports the electrical testing of specialist vehicle manufacturers including rolling stock for the global rail industry as well as developing new products for the increasingly stringent testing of subsea oil and gas installations. 

The Business was established by founder Mike Threlfall in Taunton in 1992 and has built a reputation for market leading innovation, and developing long standing relationships with some of the largest global manufacturers. Today MK Test sells into over 30 countries. The Business continues to invest in Somerset including recruitment of technical sales engineers, .net software developers, electronics engineers and local apprentices to support its substantial growth plans.

Synova Capital LLP, a leading investor in UK growth companies has invested for a majority stake in the Business to support its continued growth and accelerate the development of a number of advanced features and products.  MK Test will continue to invest in its staff and open up new markets such as subsea oil & gas.  Mike Threlfall will focus on product development in the role of Technical Director and Jason Evans will continue as Sales Director. Paul Carter (formerly a Vice President at Rolls Royce and CEO of Premium Aircraft Interior Group) and Mark Champion have also joined the Board of Directors.

Isca Ventures acted as lead advisers to the transaction with Osborne Clarke, PwC and Roland Berger providing legal advice, financial due diligence and commercial due diligence respectively to Synova. Michelmores provided legal and taxation advice to the vendors.