Management buy-in of Güralp Systems

April 2010

Primary Capital is pleased to announce its backing for the management buy-in of Güralp Systems Ltd (“Güralp”) in a GBP20 million funded transaction. The deal represents Primary’s seventh investment from its current Primary III fund.

Primary was awarded exclusivity after a competitive process and worked with Dr Güralp and Tony Wall, the incoming Managing Director, over several months to structure the deal and assemble the rest of the management buy-in team. Tony Wall is joined by Andrew Bell as Finance Director and Martin Perry as Chairman. Primary was attracted to the opportunity by Güralp’s global market leading position, the quality and range of its products and the significant opportunities to develop new markets. Primary was also convinced by the impressive track record of Dr Güralp and his team in creating a successful, innovative and profitable business and by the credentials of the management buy-in team.

Dr Cansun Güralp said, “After 25 years in the manufacture of scientific instrumentation we have exceeded all expectations and are ready for the next phase of growth and creativity. We have added much to the field of seismology and associated areas of science. I am looking forward to working with Primary and the new managers in the business. I will enjoy focusing my time on product development but I will, of course, continue to be fully engaged with the business and its customers”.

Tony Wall commented: “Since joining GSL in December 2009 as Managing Director, it has become apparent that we have enormous potential in a number of market areas such as oil and gas exploration, civil engineering and security. We will of course continue to focus on our existing markets and ensure we deliver a world class service. I have no doubt that we will move from strength to strength as we develop new and exciting products for global applications”.

Chairman Martin Perry, who between 1997 and 2007 led Sondex, an oil and gas technology company, from a small business though an IPO and a series of acquisitions to a £290m sale to General Electric, added: “Through this transaction we have combined a motivated management team with relevant experience, an exciting scientific entrepreneur who has created some world leading products and a finance organisation who has the flexibility and attitude to get business done”.

The deal was led and structured by Primary. Peter Jacobs, an Investment Director with Primary, joins the Güralp board as non-executive director. Alec Parkinson and Graham Heddle worked alongside Peter on the transaction.

Peter Jacobs concluded: “Primary is convinced of Güralp’s potential for growth from the development of both new products and new markets. Whilst we were negotiating this deal the terrible earthquakes in both Haiti and Chile brought home how early warning of seismic activity is increasingly essential for governments and for businesses. The scientific heritage of the business coupled with the new focus on product development and customer service brought by the new management team offers significant scope for growth.”



Home Products Borehole CMG-3TB CMG-5TB CMG-40TB CMG-3T5TB Accessories Featured Articles OBS CMG-3TOBS CMG-40TOBS Accessories Featured Articles Digitisers CMG-DM24 CMG-DM24S3DCM CMG-DM24S6DCM CMG-DM24S12AMS Accelerometers Analogue CMG-5TC CMG-5T CMG-5U CMG-55T Digital CMG-5TD Broadband Seismometers Weak Motion Analogue CMG-3T, 3V CMG-3ESP, 3ESPV CMG-3ESPC Digital CMG-3TD CMG-3ESPD CMG-3ESPCD Medium Motion Analogue CMG-6T, 6V, 6H CMG-40T, 40V, 40H Digital CMG-6TD CMG-40TD CMG-EDU Strong Motion Analogue CMG-5TC CMG-5T CMG-5U CMG-55T Digital CMG-5TD Data Modules CMG-EAM CMG - Serial Server Accessories CMG-GPS Control Units Borehole Accessories OBS Accessories Removable Disks Software Scream! Firmware Updates Product Support "How-to" guides Manuals & Documentation Applications Services Installations Running a Station Training Courses Support Manuals Firmware Calibration How-to Guides Set-up Guides Software Service Centres Technical Support About Us Company Profile Contact Us Distributors Find Us Vacancies News Quality Statement Case Studies	Printable version Management buy-in of Güralp Systems April 2010 Primary Capital is pleased to announce its backing for the management buy-in of Güralp Systems Ltd (“Güralp”) in a GBP20 million funded transaction. The deal represents Primary’s seventh investment from its current Primary III fund. Primary was awarded exclusivity after a competitive process and worked with Dr Güralp and Tony Wall, the incoming Managing Director, over several months to structure the deal and assemble the rest of the management buy-in team. Tony Wall is joined by Andrew Bell as Finance Director and Martin Perry as Chairman. Primary was attracted to the opportunity by Güralp’s global market leading position, the quality and range of its products and the significant opportunities to develop new markets. Primary was also convinced by the impressive track record of Dr Güralp and his team in creating a successful, innovative and profitable business and by the credentials of the management buy-in team. Dr Cansun Güralp said, “After 25 years in the manufacture of scientific instrumentation we have exceeded all expectations and are ready for the next phase of growth and creativity. We have added much to the field of seismology and associated areas of science. I am looking forward to working with Primary and the new managers in the business. I will enjoy focusing my time on product development but I will, of course, continue to be fully engaged with the business and its customers”. Tony Wall commented: “Since joining GSL in December 2009 as Managing Director, it has become apparent that we have enormous potential in a number of market areas such as oil and gas exploration, civil engineering and security. We will of course continue to focus on our existing markets and ensure we deliver a world class service. I have no doubt that we will move from strength to strength as we develop new and exciting products for global applications”. Chairman Martin Perry, who between 1997 and 2007 led Sondex, an oil and gas technology company, from a small business though an IPO and a series of acquisitions to a £290m sale to General Electric, added: “Through this transaction we have combined a motivated management team with relevant experience, an exciting scientific entrepreneur who has created some world leading products and a finance organisation who has the flexibility and attitude to get business done”. The deal was led and structured by Primary. Peter Jacobs, an Investment Director with Primary, joins the Güralp board as non-executive director. Alec Parkinson and Graham Heddle worked alongside Peter on the transaction. Peter Jacobs concluded: “Primary is convinced of Güralp’s potential for growth from the development of both new products and new markets. Whilst we were negotiating this deal the terrible earthquakes in both Haiti and Chile brought home how early warning of seismic activity is increasingly essential for governments and for businesses. The scientific heritage of the business coupled with the new focus on product development and customer service brought by the new management team offers significant scope for growth.”