LDC has backed the management buyout of Pelsis, the cutting edge European manufacturer of branded pest control management products, from a multi-million-pound deal that will enable Pelsis to accelerate its global growth strategy.
Pelsis manufactures, supplies and distributes an array of bug elimination products to the two professional and domestic markets. Customers include independent pest controllers, retailers, and global facilities management providers.
Headquartered in Knaresborough, North Yorkshire, the organization began 26 years ago for a fly killer brand. Ever since then, Pelsis has diversified and grown internationally by having a persistence to innovation, new service development and quality customer satisfaction.
Today, the company operates across 11 locations in Europe, Asia and North America, supplies customers in more than 80 countries and employs more than 270 people worldwide.
Led by CEO Peter Mangion, the business enterprise has delivered significant growth, both organically via acquisition, with sales growing from 9m to 90m during the last Ten years.
The deal gives an exit for US-based private equity finance firm Wind Point Partners.
Peter Mangion, CEO of Pelsis, said: “We have achieved significant growth in the last couple of years and also have firmly established ourselves like a market leader in Europe. An importance on innovation and quality customer support could be the hallmarks of our own success and we’re focused on building with this. With LDC up to speed you will find there’s new growth partner that not only gives us the financial firepower to go on our expansion, though the strategic support and guidance that will enable us to capitalise on further opportunities in our core markets. I’m certain that you can still develop our offering and produce our market leading pest management ways of a broader market worldwide.”
The transaction was led by John Garner, Dale Alderson, Dan Smith and Gareth Marshall from LDC in Leeds.
Dale Alderson, Investment Director at LDC in Leeds, said: “Pelsis is a superb Yorkshire business which has besides delivered growth on UK soil, but using a resolve forpersistance to product innovation has firmly established itself like a market leader using a global scale. Led by Peter, the organization contains a strong management team which includes an ambitious vision for future growth and we’re getting excited about working together with the c’s about the next phase with their growth journey.”
John Garner, Director and Head of LDC in Yorkshire as well as the North East, added: “We have known the Pelsis business and Peter for more than five-years and are delighted to were able to back the c’s and put money into this business.
“The key attractions with the outset were clear. The organization contains a highly capable and ambitious management team, enjoys a market-leading reputation and features an international footprint in a fragmented market.? This is exactly any type of business we would like to back. You will discover businesses just like Pelsis right across Yorkshire and we’re looking forward to building on our good reputation for supporting turn out to be ambitions from the region’s most fun and ambitious businesses.”
Pelsis was advised by Rothschild (Rob Dunnett, Tim Day and Sam Hall) and Reed Smith, with due groundwork undertaken by KPMG (Chris Stott).
LDC was advised on its investment by Deloitte (Martin Jenkins, Anil Gupta and Matt Nicholson) and Squire Patton Boggs (Jonathan Jones).
Management was advised by Walker Morris and Park Place.
Debt facilities were given by BlueBay Asset Management and RBS.