26 Sep 2017
Clairfield International is pleased to announce that its UK partner has finalized the sale of leading water pump and pressure solutions business Stuart Turner to private equity investor LDC.
Clairfield UK has worked with Stuart Turner over the last six years to offer buy-side deal advice on four separate strategic acquisitions including Techflow Products, Walden & Son, Allan Aqua Systems, and Trentclyde Water Solutions.
Established in 1906, Stuart Turner has grown to an annual turnover in excess of GBP 22 million and offers an extensive range of pumping products and solutions. The product range caters for almost every application, from residential home boosting pumps, lifting stations and macerator pumps to a wide range of pumps for various commercial applications.
The investment from LDC, the UK private equity arm of Lloyds Bank, will enable the existing diverse shareholder base to exit the business and allow Stuart Turner to target further growth in the commercial pumps sector through a buy-and-build strategy, in addition to supporting international expansion.
Chris Gregory, Partner at Clairfield UK, commented: “Having acted as a trusted advisor to Stuart Turner through a number of acquisitions it was essential for us to identify an investor and partner that would not only strategically value the business, but continue to invest in the established platform. We feel that LDC offers the right experience to continue the business’ impressive growth and further develop into new areas under the leadership of its experienced management team.”
Mark Williams, CEO of Stuart Turner, said: “Having worked with Orbis (Clairfield UK) over the last six years, they were a natural choice to lead the sale. Their understanding of the heritage of the business meant they would find a strategic fit that would allow the business to continue its journey of growth. LDC recognised the growth potential of the business and immediately bought into the existing buy & build acquisition strategy. Importantly, they also saw the opportunities presented by new product introductions and further geographical expansion.”
Debt facilities were provided by Barings and RBS.
Clairfield International acted as exclusive financial advisor to Stuart Turner.
Deal team: Chris Gregory, Simon Lloydbottom