We are pleased to announce that Rockworth has successfully advised the shareholders of Cursor Controls Limited on its investment and management buyout led by Maven Capital Partners.
Cursor Controls is a global market leader in the design and manufacture of trackball pointing solutions for industrial applications.
Cursor has a history spanning more than 60 years and is the UK’s only independent company focusing solely on trackballs, offering a comprehensive range of trackballs to its international clients. With over 1,200 variants in its product portfolio, and over 90% of sales going for export, Cursor provides trackballs for a wide range of industrial applications including use within the medical, marine, military and media sectors.
The funding of £4.5m provided by Maven alongside bank and management funds will enable Cursor to accelerate its growth plans, through the continuation of its leading edge product development and by leveraging the broad-based patent protected IP which the company already holds. This significant IP portfolio creates strong barriers to entry and presents opportunities for Cursor to sell its existing technology in new markets and for use in new product applications.
Cursor’s Managing Director Neale Sutton leads a dynamic executive management team with a high level of technical expertise. This team has been further strengthened by the addition of a new Finance Director and Chairman as part of the transaction.
Andrew Ferguson, Partner at Maven, said “We look forward to working with Neale and the team in helping Cursor to exploit its great potential. The business has established a reputation for technical expertise and innovation and is widely regarded as a market leader in its field. The current team is highly capable and, with Maven’s support and the addition of a new Chairman and Finance Director, is well positioned to expand into new markets and applications”.
Neale Sutton, Managing Director, commented “After a number of successful years which has seen Cursor Controls become established as market leaders in trackball and input technology, the Management team are delighted to be embarking on the next chapter of the Company’s storied history with Maven by our side.
When looking for an investment partner it was essential to us that any incoming party understood and fully supported the customer centric ethos that has made CCL so successful to this point, whilst also sharing our exciting vision for the future. Maven continually demonstrated this support and understanding throughout and have already proved instrumental in assisting with the process of bringing on board Nick Burgess (Finance Director) and Kevin Kearns (Chairman) to complement the already strong and well established team.
These changes leave us remarkably well positioned to continue the development of our continually expanding and leading edge input solutions, whilst ensuring all of our valued customers continue to receive the highest possible levels of service and support to which they have become accustomed in the future.”
Commenting on Rockworth’s role in the transaction, shareholder and Director Tony Sutton said: “We worked with Rockworth throughout this transaction and are delighted with the end result – Maven Capital are an excellent fit for our business; both the vendors and management team are excited about the future for Cursor Controls. The team at Rockworth introduced a range of parties, leading negotiations with a very high degree of professionalism. There were a number of complexities to the transaction but Rockworth played their part to the full, acting throughout with the integrity and commitment necessary to achieve the result we did. I would not hesitate to recommend Rockworth to other business owners and management teams considering a transaction.”