In mid-November, Arrow Electronics of the US sold Sequoia Technology in a GBP5 million buyout backed by Murray Johnstone Private Equity’s (MJPE’s) third venture capital trust.
Sequoia, which is based in Reading and Copenhagen, supplies state-of-the-art electronic components and equipment sourced internationally from manufacturers and works with its clients to incorporate these components into consumer electronics and telecommunications products.
Catalyst Corporate Finance led the deal, working with MJPE’s Birmingham office; NatWest Corporate and Lombard Commercial Finance provided debt facilities for the deal.
Commenting on the deal, MJPE’s Pete Clarke says: “[Sequoia] is working at the cutting edge of technological innovation, providing its suppliers with access to world-class electronics manufacturers. The company works with these manufacturers to ensure the newest developments in semiconductors, telecoms or industrial applications are designed into tomorrows products”. Sequoia’s client list includes groups such as Pace, Psion, Motorola, Panasonic and Vodafone.