Pictured above: (l-r) Roy Botterill, Arvind Patel, Andy Breeze and Micky Johal

Corporate finance experts from RSM Tenon Leicester have advised on the sale of local electronic accessories firm Fameart Limited to a Dutch firm.

Fameart Limited's majority shareholder Arvind Patel has sold the company to Seme Nedis for an undisclosed sum.

Seme Nedis, the UK subsidiary of Nedis Holdings BV, is a complementary Netherlands-based business, with an existing UK operation in Melton Mowbray. 

Both Fameart and Nedis are business-to-business distributors of consumer electronic accessories with Fameart specialising in the niche area of supplying rechargeable batteries, as well as photographic and video accessories.

As well as distributing products from Energizer, the world's largest manufacturer of dry cell batteries, Fameart has become one of the leading suppliers of specialist rechargeable batteries. It holds a license to supply rechargeable camcorder, digital camera and cordless phone batteries under the Energizer brand name throughout the whole of Europe. Fameart was founded by Arvind in 1992.

"The sale will see the two companies merging, allowing us to offer a much greater product range to our customers," said Arvind. 

"It's a very exciting time for both companies. The sale will greatly benefit our customers. Not only will there be a better offering in terms of products, but we will have a combined logistics system which will enhance our delivery services."

Seme was founded originally in 1972 and initially specialised in servicing domestic electronic products such as TVs and videos. Nedis BV acquired an interest in 2005 and its trading title was changed to Nedis UK in 2008, and in recent years has evolved out of the repair business into consumer electronic accessories.

Nedis Holdings is a European-wide group supplying the consumer electronics markets with accessories for sectors including photographic, audio and video, satellite, gaming and music.

Lead advisers to Arvind Patel from RSM Tenon's Leicester corporate finance team were associate director Andy Breeze and Micky Johal.

Andy said: "Fameart owner Arvind Patel has spent the past 20 years nurturing and developing his business. 

"While he wanted to realise its full value he was also keen to identify a strategic buyer with the infrastructure to help Fameart grow even further.

"As lead advisers, we were asked to undertake a marketing exercise. We made contact with a number of potential buyers and quickly identified Nedis as an ideal suitor.

"They are looking to grow their existing UK business and Fameart's customer base and product range complement what they are already offering.

"The new owners were also impressed with Arvind's leadership and he will now be helping them to spearhead their combined UK interests."

RSM Tenon worked alongside corporate specialists Roy Botterill and Jay Vaghani, from law firm Harvey Ingram.

Roy said: "Fameart is a superb proposition that has been carefully nurtured and extremely well-managed during the consumer electronics boom of the past 20 years.

"As a result, its applications have vast potential for business, commerce and individuals alike. This deal is an excellent opportunity and going to help expand the company's enormous offering even further. We're delighted to be a part its on-going strategic growth."