UK protective gear company Avon Rubber snapped up US helmets and lining business Team Wendy for $130 million (£100 million), advised by Evercore. Team Wendy was founded by Ohio entrepreneur Dan Moore in 1997 as a memorial to his daughter who suffered a brain injury on a ski trip.
It makes hi-tech padding used by military around the world and will sit alongside Avon’s existing tech business. The deal was funded by the £180 million sale of Avon’s Milkrite dairy equipment division.
Tech giant Computacenter said it will acquire Canadian IT firm Pivot for C$105.8 million (£62 million) to increase its scale in North America. Computacenter was advised by Obair Partners.
Sir Martin Sorrell’s S4 Capital — which today posted a 60% increase in first-half revenues to £141 million, signalled it had another takeover looming.
Sorrell, who raised £116 million in July to fund a takeover warchest said he had “a strong pipeline” of possible deals.
“We’ve done four since Covid and have something else coming later this week. When furloughs are taken off and subsidies are taken out in the US there will be pressure on small and medium sized businesses to sell.”
