The MBO, the acquisitions and the sale

BUSINESS OVERVIEW

Homelux and Nenplas, are leading suppliers of extruded and injection moulded plastic products for the Tiling, DIY, Furniture, Caravan and Shopfitting markets, who were owned by US-based multi-national Newell Rubbermaid.

THE MBO

Homelux and Nenplas were divisions of Newell Rubbermaid who made the decision to dispose of the companies in order to concentrate on their strategic core business activities.

Orbis successfully negotiated the acquisition of the business from US-based multi-national Newell Rubbermaid, whilst at the same time forming a 6-month plan to transfer all the services and group functions required into a newco.

Orbis worked closely with the management team to secure appropriate funding from Maven Capital Partners who took a significant minority stake in the company. Orbis’ investment vehicle Intrinsic Equity also invested alongside management.

THE ACQUISITIONS

Following the MBO and the success of the newco Homelux Nenplas, the management team decided to invest in strategic acquisitions. Over a three-year period, Orbis assisted Homelux Nenplas in the acquisition of three businesses, Tilerite, Polyplas and Delta Plastics who each added the portfolio and customer base of the business.

THE SALE

In 2013 Orbis led the multi-million-pound sale of Homelux Limited to QEP a leading worldwide manufacturer, marketer and distributor of hardwood flooring, flooring installation tools, adhesives and flooring related products.

During this process, Orbis also completed the secondary buy-out of Nenplas Limited which was to remain with management and Maven Capital Partners.

Nenplas Limited has subsequently been sold to German company Döllken-Weimar, part of the German quoted group Surteco.