FBM assisted the shareholders of Datawatt B.V. of Steenwijk in the sale of the company to Ovarro Ltd.
Datawatt B.V., since 1977, supplier in the field of remote monitoring and management of electricity and water networks, among others, has been acquired by Ovarro Ltd of the United Kingdom.
David Kirkley, Managing Director of Datawatt’s largest shareholder, asked FBM to find a new strategic owner to grow the company to the next stage.
Ovarro emerged as one of the potential buyers from the international research FBM subsequently conducted. Through several virtual meetings, it quickly became apparent that there was a good match between the two companies, whereby Ovarro’s technology was of interest to Datawatt and vice versa Ovarro could offer Datawatt the opportunity to offer its products worldwide.
The transaction was overseen from FBM by Michel Pilgram and Derk Kropholler.
After being involved with Datawatt for more than 20 years, we decided it was time to find a new home and a bright and secure future for Datawatt. We turned to the same corporate finance firm that had previously arranged a successful sale of Datawatt’s sister company in the UK and once again we were not disappointed with the strategic buyer they found. Despite difficult circumstances, FBM showed both a highly professional approach and great determination to make the deal a success. We are confident that Ovarro will enable Datawatt to reach its full potential and we are delighted that FBM found them and made the transfer possible.
David Kirkley (CEO Datawatt)
With the seller on the Isle of Wight and the buyer in England, it was not possible to meet. However, due to the constructive attitude of all parties involved and modern technology, this transaction went quite smoothly and successfully despite all the corona restrictions. Although it was a first for us not to have any physical appointment during a sales transaction, both seller and buyer are very satisfied with the whole process.
