| Milton Keynes firm acquired for £283m |
| Written by Business Weekly | |
| Wednesday, 09 May 2007 | |
|
Candover, a leading European buyout specialist, has signed an agreement to acquire Capital Safety Group – headquartered in Milton Keynes – for £283m from Electra Private Equity PLC.
Capital is the world’s leading specialist designer and manufacturer of height safety and fall protection equipment. The company owns two leading brands, DBI-SALA and Protecta, and produces products such as harnesses, lifelines and anchors used by those who work at height. Its products are sold globally and are widely used in industries such as oil and gas, construction, manufacturing and telecoms. Equity funding is being provided by the Candover 2005 Fund. The management team will also be re-investing in the new equity structure. Debt and mezzanine financing is being led by HBOS. CSG has grown significantly under the current management team. Growth has come from a combination of the expansion of the fall protection market driven by buoyant underlying growth in the user markets and successful company specific initiatives, including a focus on high-growth sectors such as oil and gas and innovative product development . This strategy will remain a focus for the group going forward, with particularly strong opportunities for growing market share in Europe and Asia. |
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