A Shipley-based developer of sensory products for the special educational needs market has been sold by parent RM plc in a deal supported by Dow Schofield Watts Corporate Finance (DSW).
SpaceKraft’s customers include carers and teachers and before the sale was part of RM, a listed £180m-turnover provider of information technology to the education sector headquartered in Oxfordshire.
Tony Norwood, Roger Esler and Paul Herriott from DSW advised RM on the transaction.
“We are delighted to have assisted RM plc by managing a targeted sale process on their behalf, resulting in SpaceKraft now being back in the hands of private ownership,” said Norwood.
“As a developer servicing the special education needs sector, SpaceKraft manufactures a wonderful range of products at its West Yorkshire facility in Shipley and we wish the business and its new owners all the very best for the future.”
Greg Davidson, head of legal for RM, said: “We identified SpaceKraft as non-core to our operations following a strategic review in early 2015 following which we spoke with Tony and Roger at DSW about leading the disposal process.”