Cable Management Group (CMG), a designer, manufacturer and supplier of conduit systems, electrical accessories and specialist plumbing tools, has been bought by its management. The financial terms of the deal have not been disclosed but it was funded by private equity firm Lloyds Development Capital (LDC).

Cable Management Group (CMG), a designer, manufacturer and supplier of conduit systems, electrical accessories and specialist plumbing tools, has been bought by its management. The financial terms of the deal have not been disclosed but it was funded by private equity firm Lloyds Development Capital (LDC).

LDC’s funding included finance to support the development and growth of the business, expand its export markets and to fund potential acquisitions.

The buy-out, which was led by managing director Duncan McKinlay, was supported with debt by The Royal Bank of Scotland (RBS).

CMG was sold by Volution Holdings, a subsidiary of private equity firm ABN AMRO Capital, as part of a strategy to focus its operation on its core ventilation business. Volution has held a stake in CMG since it backed a secondary buy-out at the company in July last year.

LDC’s investment was managed by regional managing director Martin Draper who said he backed the deal due to the quality of the management team and the strength of the company’s products.

The buy-out team and LDC were advised by law firm Eversheds and KPMG. DLA also provided legal services, with RBS represented by Browne Jacobson.

CMG sells its products worldwide under brands such as Adaptaflex, Kopex, Harnessflex, Elkay and Pipeslice to the construction, rail, marine, petrochemical, machine tooling, automotive and military markets. The Birmingham-based company employs 223 people and has a sales operation in Australia with a presence in the US.