Private equity firm LDC has backed the multi-million-pound management buyout of Pelsis, the leading European manufacturer of branded pest control products.
Pelsis manufactures, supplies and distributes a wide range of pest control products to both the professional and domestic markets.
Customers include independent pest controllers, retailers, and global facilities management providers.
Led by CEO Peter Mangion, the business has delivered significant growth, both organically and through acquisition, with sales growing from €9m to €90m over the past 10 years.
The deal provides an exit for US-based private equity firm Wind Point Partners.
Peter Mangion, CEO of Pelsis, said: “We have achieved significant growth over the past few years and have firmly established ourselves as a market leader in Europe.
“With LDC on board we have a new growth partner that not only provides us with the financial firepower to continue our expansion, but the strategic support and guidance that will enable us to capitalise on further opportunities in our core markets.
“I’m confident that we can continue to develop our offering and bring our market leading pest control solutions to a broader customer base 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 fantastic Yorkshire business that has not only delivered growth on UK soil, but through a commitment to product innovation has firmly established itself as a market leader on a global scale.
“Led by Peter, the business has a strong management team that has an ambitious vision for future growth and we’re looking forward to working with the team on the next phase of their growth journey.”
Headquartered in Knaresborough, North Yorkshire, the business was founded in 1984 as a fly killer brand.
Since then, Pelsis has diversified and grown internationally through a commitment to innovation, new product development and quality customer service.
Today, the business operates across 11 locations in Europe, Asia and North America, supplies customers in more than 80 countries and employs more than 270 people worldwide.
John Garner, Director and Head of LDC in Yorkshire and the North East, said: “We have known the Pelsis business and Peter for more than five years and are delighted to have been able to back the team and invest in the business.
“The key attractions from the outset were clear. The business has a highly capable and ambitious management team, enjoys a market-leading reputation and has a global footprint in a fragmented market.
“This is exactly the type of business we want to back. There are businesses just like Pelsis right across Yorkshire and we’re looking forward to building on our track record of supporting the growth ambitions of the region’s most exciting and ambitious businesses.