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Inflexion Private Equity, the mid-market private equity investor, announces today that it has led the acquisition of Orchard Electronic on behalf of Aspen Pumps, one of its portfolio companies, for an undisclosed sum.
Established in 1997, Orchard Electronic designs and manufactures Printed Circuit Boards (PCBs) and miniature air conditioning pumps and has been a key supplier to Aspen Pumps for around ten years. Bringing this design expertise in-house will enable Aspen to accelerate its expansive new product development programme and better serve its customers.
Orchard employs 35 staff and operates from an 8,000 square foot factory in East Sussex. Renowned for its innovative design capabilities, the company has displayed strong organic growth since inception and has established leading edge products. David Gowland will continue to operate as Managing Director and there will be no changes to the management structure.
Aspen Pumps is a market leading designer and distributor of condensate pumps which remove water and condensation from air conditioning systems. It was acquired by Inflexion through an MBO in March 2007 and has subsequently performed ahead of expectations; as a consequence, the number of employees has increased by 10% in the six months since acquisition.
Simon Turner, Managing Partner at Inflexion Private Equity, said: “Orchard Electronic is a natural fit for Aspen Pumps, and this transaction creates genuine synergies. The combined company will be able to provide their customers with a wider range of future products and to accelerate the ongoing innovation of new pumps for which Aspen is renowned.”
Adrian Thompson, MD of Aspen Pumps, said: “We are pleased that our long term relationship with Orchard Electronic has been consolidated and are excited about the future product developments that this transaction will promote. Orchard is a successful and well-managed business and we look forward to working more closely with David and his team in developing our global connections and presence even further.”
Christian Hamilton and Charles Thompson led the acquisition on behalf of Inflexion Private Equity.