Birmingham-based CMG designs and manufactures flexible conduit systems for protecting power and data cables. In the year to July 2010, the company reported sales of approximately £28 million. CMG employs around 200 people and operates through the brands Adaptaflex, Kopex and Harnessflex.
Private equity firm Lloyds Development Capital (LDC) acquired a majority stake in CMG in 2007.
Dominic Pileggi, chairman and CEO of Thomas & Betts, says: ‘CMG is a growing and profitable business with market-leading brands, a solid international presence and an excellent financial profile. CMG’s diverse portfolio of cable protection systems complement T&B’s existing product offering as well the portfolio of cable protection systems added when we acquired Swiss-based PMA earlier this year.’
Thomas & Betts is a global company based in Tennessee that produces a range of power and data cables and associated products. In 2009 the company reported a turnover of $1.9 billion. The acquisition was funded from Thomas & Betts’ cash reserves.
The deal is LDC’s second recent exit, following the sale in August of Vision Security Group.