Orbis Advises On The Next Stage of Stuart Turner’s Growth
Birmingham-based Orbis Partners have finalised the sale of leading water pump and pressure solutions business Stuart Turner to private equity investor LDC. The transaction was led by Chris Gregory and Simon Lloydbottom.
Orbis have worked with Stuart Turner over the last six years to offer buy-side deal advice on four strategic acquisitions including; Techflow Products, Walden & Son, Allan Aqua Systems, and Trentclyde Water Solutions.
Established in 1906, Stuart Turner has grown to an annual turnover in excess of £22m and offers an extensive range of pumping products and solutions. The product range caters for almost every application, from residential home boosting pumps, lifting stations and macerator pumps to a wide range of pumps for various commercial applications.
The investment from LDC will enable the existing diverse shareholder base to exit the business and allow Stuart Turner to target further growth in the commercial pumps sector through a buy-and-build strategy, in addition to supporting international expansion.
Having worked with Orbis over the last six years, they were a natural choice to lead the sale. We were confident that Orbis would find a buyer that would not only enable the business to grow but invest in the established heritage. LDC recognised the growth potential of the business and immediately bought into the existing buy & build acquisition strategy. Importantly, they also saw the opportunities presented by new product introductions and further geographical expansion.
Mark Williams, CEO
Having acted as a trusted advisor to Stuart Turner through a number of acquisitions it was essential for us to identify an investor and partner that would not only strategically value the business, but continue to invest in the established platform. We feel that LDC offers the right experience to continue the business’ impressive growth and further develop into new areas under the leadership of its experienced management team.
Steve Lee will move from his current non-executive director role where he has supported the business for six years to become non-executive Chairman. In addition, Duncan Cooper, former regional managing director at Grundfos, one of the world’s leading pump manufacturers, has also been appointed as non-executive director.
Debt facilities were provided by Barings and RBS.