PMSI supports CBPE’s investment in ETL Systems

ETL Systems is a global designer and manufacturer of leading RF distribution equipment used in the ground segment of the satellite communications market. ETL serves various end markets including broadcasting, energy, defence, government and maritime, and has a distinguished track record of growth and technological innovation in support of its international client base.

The business is embarking on further expansion, designed to take advantage of positive market drivers in the satellite industry, in particular the rapid increase in the volume of data being transmitted by corporates, defence & intelligence agencies and broadcasters as well as the growing need for global connectivity. These trends are driving advancements in satellite technology which necessitate innovation and investment in critical ground-based infrastructure used to handle signal reception and transmission.

The investment in ETL continues CBPE’s successful track record of investing in industrial technology companies, including most recently IDEAL Networks.

Ian Hilditch, CEO of ETL Systems, said:
“We are delighted to welcome the team from CBPE Capital, who will add a new level of support and experience to help us grow our global customer footprint and accelerate bringing new technologies to market. CBPE have a proven track record with technology companies like ETL, having partnered with some great companies.”

Jolyon Latimer, Partner, CBPE, said:
“ETL is an excellent company with a reputation for product quality and innovation, a blue-chip international customer base and is led by a strong management team. The business operates in the attractive and growing satellite communications market and is well placed to capitalise on the opportunity ahead of it. We are delighted to have the opportunity to support the management team in delivering the next stage of ETL’s growth strategy.

PMSI helped us get up to quickly get up to speed with the key trends in an exciting but relatively niche sector. The team used a bottom up approach to determine market size and growth combined with market interviews to assess ETL’s competitive position. PMSI’s work was invaluable in enabling CBPE to assess ETL’s market opportunity and complete the transaction within the required timeframe.”

The investment was led by Jolyon Latimer and Ben Lewis at CBPE with support from Matthew Watmore.

PMSI worked closely with both CBPE and ETL Systems in providing CDD support for the deal.