News: CMD acquired again
Rotherham manufacturing firm, CMD Ltd, has been acquired by another manufacturer, Luceco plc, two years after it was bought by industrial private equity investor, Rubicon Partners.
Eastwood-based CMD is a designer and manufacturer of power distribution and ergonomic solutions in the workplace and makes products such as workstation hardware and power track systems for use in the commercial office, retail and hospitality sectors. The company employs 158 people and has been a market leader of award-winning products and services since 1988.
Rubicon has already bought and sold CMD, a company it first acquired in 2000. CMD was the subject of a management buyout in 2008 and was acquired by American firm, IDEAL Industries Inc., in 2017.
Luceco plc is a supplier of wiring accessories, EV chargers, LED lighting, and portable power products and has its UK manufacturing and distribution centre in Telford.
The acquisition of CMD comes with the purchases of its ultimate parent company, Baltic Topco Limited, from Rubicon Partners and management for cash consideration of £30m, on a cash and debt-free basis.
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It was confirmed that CMD has an experienced senior management team which will remain with the business, continuing to operate from its headquarters in Rotherham.
For the audited 12-month period ended 31 December 2023 CMD reported revenue of £23.1m and earnings before interest, tax, depreciation and amortisation (EBITDA) of £4.0m. Luceco said that the acquisition is expected to be earnings enhancing in its first full year of ownership.
John Hornby, Chief Executive Officer of Luceco, said: "Luceco has a well-established position as a leading supplier of wiring accessories to the residential market in the UK so CMD, with its leading position in the commercial wiring accessories market, is a very natural fit. The Group's expertise in product development, manufacturing and sourcing will enable us to accelerate range innovation and improve margins for CMD. We also see an opportunity to offer Luceco's professional lighting range to CMD's customer base of specifiers and contractors. The acquisition is in line with our M&A strategy and follows the successful acquisition of D-Line earlier in the year."
Jon Holding, Managing Director of CMD, added: "CMD has been successful over many years thanks to its hard-won reputation for consistently delivering excellent customer service. The management team and I are excited for the next chapter and look forward to growing the business with Luceco behind us."
CMD website
Images: CMD
Eastwood-based CMD is a designer and manufacturer of power distribution and ergonomic solutions in the workplace and makes products such as workstation hardware and power track systems for use in the commercial office, retail and hospitality sectors. The company employs 158 people and has been a market leader of award-winning products and services since 1988.
Rubicon has already bought and sold CMD, a company it first acquired in 2000. CMD was the subject of a management buyout in 2008 and was acquired by American firm, IDEAL Industries Inc., in 2017.
Luceco plc is a supplier of wiring accessories, EV chargers, LED lighting, and portable power products and has its UK manufacturing and distribution centre in Telford.
The acquisition of CMD comes with the purchases of its ultimate parent company, Baltic Topco Limited, from Rubicon Partners and management for cash consideration of £30m, on a cash and debt-free basis.
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It was confirmed that CMD has an experienced senior management team which will remain with the business, continuing to operate from its headquarters in Rotherham.
For the audited 12-month period ended 31 December 2023 CMD reported revenue of £23.1m and earnings before interest, tax, depreciation and amortisation (EBITDA) of £4.0m. Luceco said that the acquisition is expected to be earnings enhancing in its first full year of ownership.
John Hornby, Chief Executive Officer of Luceco, said: "Luceco has a well-established position as a leading supplier of wiring accessories to the residential market in the UK so CMD, with its leading position in the commercial wiring accessories market, is a very natural fit. The Group's expertise in product development, manufacturing and sourcing will enable us to accelerate range innovation and improve margins for CMD. We also see an opportunity to offer Luceco's professional lighting range to CMD's customer base of specifiers and contractors. The acquisition is in line with our M&A strategy and follows the successful acquisition of D-Line earlier in the year."
Jon Holding, Managing Director of CMD, added: "CMD has been successful over many years thanks to its hard-won reputation for consistently delivering excellent customer service. The management team and I are excited for the next chapter and look forward to growing the business with Luceco behind us."
CMD website
Images: CMD
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