Founded in 1975, Cambridgeshire-based Titan specialises in the design and manufacture of steering, suspension and engine components for use in the motorsport and automotive industry, as well as complex steering technology for advanced vehicles. Through its manufacturing arm, Titan is able to offer full production support, from initial concept through to production.
Current shareholders, Laurence (Oz) Timms and Diana Thomas, are set to retire after four decades building up the business and it is intended that there will be no disruption in service for its 80-strong workforce, clients and other stakeholders.
The Birketts’ team was led by Heidi Bond (Corporate) with assistance from James Stocker (Corporate), Hannah Harbottle (Commercial Property) and Robbie Watson (Corporate Tax).
Ben Croston and David Scrivener at Ensors acted as corporate finance advisers for Oz and Diana.
George Lendrum, Chief Executive Officer at Titan, said: “With the automotive sector currently welcoming a new era of innovative technologies the new shareholder team are incredibly excited to take Titan in to this next phase of its growth. Oz and Diana have set the company on a course which has seen it go from strength to strength and we are delighted to build on the foundations they have established through the diversification of Titan’s offering.”
Retiring shareholder, Diana Thomas, added: “Myself and Oz are proud to look back at what we have achieved, knowing we leave the company in a strong position. It has been an honour to write the Titan story and we are happy to step back, knowing it is in such great hands. Our thanks go to Birketts for its excellent service, commercial sensitivity and insight throughout the transaction.”
Heidi Bond, Senior Associate in Birketts’ Corporate Team concluded: “Birketts were delighted to support Titan in achieving this significant milestone. The company has made itself indispensable across the scientific markets as a supplier of innovative power-assisted and autonomous steering technologies and we are excited to see what the future holds for the new shareholder team.”