Sonaspection International Limited (Sonaspection) is the longest established manufacturer of flawed specimens in the non-destructive testing (NDT) and evaluation (NDE) industry. It is internationally accepted as the standard for NDT training and qualification. Sonaspection produce purposely flawed specimens from steel and aluminium by expertly welding, casting and forging products with different types of defects within them. These specimens are used for calibrating NDT equipment and for training in the use of NDT equipment. They are based in Lancaster and also have a site in Charlotte, USA. Sonaspection was sold to members of its management team, backed by a private investor, George L. Tsangarides, from Athanasia Investments LLP.
Prism Corporate Broking (Prism) is a specialist M&A advisory that has been helping owner-managers to buy and sell businesses for over 20 years. The Prism team expertly supported IMechE management throughout the whole of the sale process – from identifying potential acquirers, through negotiations and due diligence, to the successful completion.
Neil Kelly, General Manager at Sonaspection, said “This is an exciting step for Sonaspection. Building on our strong legacy, this transition presents new opportunities for innovation and growth, whilst ensuring we continue to provide our customers with the same outstanding service they’ve come to expect.”
Martin Allen, Business Consultant for IMechE, said “Prism’s mix of deep sector and transaction knowledge coupled with developing a strong and trusting relationship resulted in a really positive outcome for IMechE.”
Peter Watson, Managing Director of Prism, said “I am delighted that we have been able to help IMechE through the sale of Sonaspection. The business has a bright future under its great new ownership team.”
Find out more about Prism and our M&A services here: www.prismcorporatebroking.com
The Sonaspection management team were advised by Wallace LLP, Ensors, and Verity Relationship Intelligence.
Photograph: One of Sonaspection's kits with NDT flawed samples and a member of staff working on a metal pipe. Photograph Source: Sonaspection.
