Rutland completes £51.5 million deal

Private equity firm Rutland Partners has bought Pulse Home Products, a leading UK supplier of branded domestic appliances, for £51.5 million from consumer goods group Alba plc.


Private equity firm Rutland Partners has bought Pulse Home Products, a leading UK supplier of branded domestic appliances, for £51.5 million from consumer goods group Alba plc.

Private equity firm Rutland Partners has bought Pulse Home Products, a leading UK supplier of branded domestic appliances, for £51.5 million from consumer goods group Alba plc.

Rutland invested some £25 million in the deal through Rutland Fund II, while CIT Capital Finance (UK) arranged and underwrote £53 million of debt to fund the balance of the acquisition and provide significant additional working facilities.

CIT’s senior managing director, Graham Randell, said: “The ability to support an experienced private equity sponsor such as Rutland in its aim to transition Pulse to a state of independence is testament to the substantial in-house expertise of CIT’s team and in particular it demonstrates our commitment to management buy-outs in the middle market at a time of extreme market volatility.”

With Rutland’s backing Pulse’s management, which is led by chief executive David Allen, plan to grow the company having transitioned it to a truly stand-alone business.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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