Smith & Williamson, the financial and professional services firm, has advised on the sale of Swansea-based RAP International to Yokogawa Electric Corporation.
RAP International specialises in risk assessment software used in high hazard industries by a client base comprising many of the world’s blue-chip oil and gas companies. The business trades in more than 30 countries and in 25 languages at over 100 sites across the world.
Yokogawa is the world leader in industrial automation and control, test and measurement, information systems and industrial services. Listed on the Tokyo Stock Exchange, Yokogawa’s global network comprises 113 companies spanning 60 countries, generating $3.6 billion in sales last year.
Integrating RAP International’s electronic risk assessment and permit to work software solutions with Yokogawa’s real-time plant condition monitoring will drive safety assurance, reduce turnaround times, and support customers in providing enhanced protection for their people, assets, and the environment.
Mark Carter, managing director of RAP International, which also has operations in Houston, Texas and Doha in Qatar, said:
“Having overseen RAP since its foundation in 1994 the decision by the shareholders to sell the business was not easy.
“It was crucial to us that we found a global partner who shares our vision for the business and Smith & Williamson’s international reach was key to this. Its hands-on support throughout the project has been first class and we would not hesitate to recommend them to other business owners.”
The Smith & Williamson team was led by Martyn Fraser and Ronan Brophy. Martyn, head of the 11-strong corporate finance team based in Smith & Williamson’s Bristol office, said: “We were delighted to work with RAP in identifying the right partner for the next phase of its development.
“With the backing of Yokogawa’s global sales network more companies are going to benefit from the enhanced protection RAP’s solutions offer. That is a win-win outcome for all involved.”
Legal advice to the shareholders was provided by Simon Smith and Lucy Fairbrother of Clarke Willmott.