Aspen Pumps sells to Inflexion
Aspen Pumps has been acquired by Inflexion Private Equity
Aspen Pumps, which produces air conditioning accessories, has been acquired by Inflexion Private Equity.
The company founded in 1992 is a leading European supplier and operates in over 50 countries, the air conditioning market is believed to have considerable growth potential as GDP per head continues to grow in Western Europe.
Based in Hailsham, East Sussex, the company employs 50 staff and is led by managing director Bernard Leach.
He said: “Since its foundation, 14 years ago, Aspen has had a strong track record of sales growth, testimony to the hard work of our staff, product quality and continuous innovation.
“Our new partnership with Inflexion will enable us to build upon these assets to enter the next stage of Aspen’s development.”
The deal means that Adrian Thompson, former MD of Greenwood Air Management and Ian Stuart, chairman of Aqualisa, will both join the company’s board.
Although the exact terms have not been disclosed it is known that Inflexion has acquired a majority stake in the business.
The new management team has also invested and a package of debt facilities was provided by Lloyds TSB.
Inflexion was introduced to the transaction by Simon Keeble of BDO Stoy Hayward and was advised by Ernst & Young Transaction Advisory Services.
Christian Hamilton, Charles Thompson and Simon Turner led the transaction on behalf of Inflexion.
Both Hamilton and Thompson will be taking seats on the board of directors.
© Crimson Business Ltd. 2007