Sale of market leader


1st November 2018



WATERSHEDS, the Northampton corporate finance specialist, has led the successful sale of Troika Systems Limited, the award winning market leader in the manufacture and distribution of innovative 2D and 3D microscopes to Fresh Equity Limited.

Swindon-based Troika was established by Philip Hall in 1996 who had significant knowledge and experience in the printing industry. He identified there were inefficiencies within the industry due to lack of quality control and standards on the capital equipment, costing printing companies significant amounts through wasted print runs. Philip developed innovative products to address these issues.

Philip Hall of Troika, said: "I am delighted to have worked with Watersheds. I believe the business can be taken to the next level with the current management team under guidance and support of a more experienced owner. Therefore, it was important to me Troika was sold to a buyer who saw the potential and more importantly would look after the loyal staff who have supported me all these years.

"The process of selling the business was overwhelming but Watersheds were there to advise and support me by co-ordinating all parties and managed the transaction throughout."

The acquisition allows the business to grow with the current experienced management team, guided by Midlands based investment company Fresh Equity Limited.

Wendy Lam, Partner at Watersheds, said: "Troika manufactures a very unique product therefore it was important to find a buyer who could see the potential application across other sectors and build upon that opportunity.

"I am pleased to have been able to deliver Philip's expectations. We identified Fresh Equity as a potential buyer and made a direct approach. They were able to deliver a growth plan which excited the existing management team and allowed the business to remain at Highworth, ensuring all the staff continued with the business on its exciting new journey ahead."

Legal advice was provided by Clark Holt with accounting and tax support provided by Morris Owen.

For more information about Watersheds, visit