Carson McDowell Advises on Sale of Telestack Limited for US$36 million
03 April 2014
Practice Area: Corporate - M&A
Carson McDowell recently advised the shareholders of Tyrone manufacturer Telestack Limited in the sale of the company to Astec Industries, Inc. for US$36 million (£22million). Omagh-based Telestack designs and manufactures mobile materials handling products that are mainly used in the mining and quarrying industries.
Based in Tennessee, with an annual turnover of almost US$1billion, NASDAQ listed Astec Industries, Inc manufactures and sells equipment and components primarily for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally.
The team from Carson McDowell, led by partner Richard Gray, joint head of Carson McDowell’s Corporate Team, advised on all legal aspects of the sale.
Speaking about the deal, Richard Gray, said, “We are delighted to have been able to help guide the shareholders through the sale process and bring it to a successful outcome. Telestack is a strong local company which has established a reputation in what is a global marketplace for its products and services. We wish it every success as part of the Astec Industries group and have no doubt it will continue to thrive.”
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