Defense technology business soars to new heights

Deal Flash

The shareholders of TMD Holdings Limited (TMD) have sold the company to Odyssey-backed Communications & Power Industries (CPI).

TMD is a world-leading designer and manufacturer of technologically advanced microwave, radio frequency and high voltage equipment for radar, electronic warfare, communications, medical, EMC testing and scientific applications.

Appointing the Oaklins team was crucial in running an international process. Their hands-on approach and deal experience was key to overcoming challenges during the process, and the team always went the extra mile to help us achieve our objectives. The shareholders are very pleased with the outcome and wish the parties well for the future. PETER BUTCHER AND HOWARD SMITH, JOINT SHAREHOLDERS, TMD HOLDINGS LIMITED, UK

Oaklins played a major role facilitating this deal

Oaklins Smith & Williamson, based in the UK, with further support from Oaklins’ aerospace & defense (A&D) specialist in California, worked with the shareholders of TMD to deliver a successful sale to CPI.

Read more about the transaction, market trends, deal drivers and M&A valuation aspects

Talk to the deal team

Amanda Phillips

London, United Kingdom


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Stephen Perry

Irvine, United States

Managing Director

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Talk to our local advisors

Marcus blomqvist 0
Marcus Blomqvist Helsinki, Finland
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Samuli siljamaki
Samuli Siljamäki Helsinki, Finland
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