24 January 2023
YFM completes sale of Wakefield Acoustics to CECO Environmental Corp. (Nasdaq: CECO)
The investment will enable Wakefield to expand its geographic reach and product offering
YFM Equity Partners today announces the successful sale of Wakefield Acoustics Ltd. (Wakefield), to Nasdaq-listed CECO Environmental Corp, a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment across the globe, serving a broad landscape of industrial air, industrial water and energy transition markets.
Wakefield is one of the UK’s leading manufacturers of advanced industrial, commercial, and environmental noise control systems and have grown to become a leading, well-respected, and forward-thinking player in the noise control manufacturing sector with the support of YFM. The company’s current Managing Director, Kevin Still, will remain at Wakefield, working within CECO’s Thermal Acoustics business platform consisting of the Aarding and Burgess-Aarding brands to drive strategic growth.
The acquisition of Wakefield by CECO’s Thermal Acoustics business platform, advances CECO’s position within the industrial silencing and noise attenuation space, adding a range of solutions as well as access to new geographic markets and industrial segments. Additionally, it will offer Wakefield the opportunity to expand its product offering globally, with CECO providing investment and routes to markets to enable the expansion.
Gavin Chadwick, Portfolio Director at YFM, comments: “We invested in Wakefield in 2014 and despite challenging market conditions, we have successfully seen the business through into its next stage of growth and evolution. Since our investment the business increased sales by over 200% and invested in new facilities and manufacturing capability. Having guided the company through management changes as well as supporting their expansion into the datacentre and power generation sectors, the business is now very well-positioned to move on to the next stage of its growth and we wish them every success for the future.”
Kevin Still at Wakefield added: “YFM has been an extremely supportive partner, helping us to create a stronger, and more diverse management team, and to be more strategic. As the Wakefield team enters the next stage in our development, we are in a great place from which to continue on our current strong trajectory. We look forward to working with CECO, as we continue to expand in high growth energy and green markets in the UK, Europe and beyond.”
YFM and the management team were advised by Napthens (Legal),