Inflexion sells CP Electronics to Legrand
Inflexion is pleased to announce that it has sold CP Electronics, the UK’s leading manufacturer of lighting control systems, to French industrial group, Legrand.
Founded over 40 years ago, CP Electronics assists its blue chip customer base in reducing their operating costs and carbon footprint through an extensive range of energy saving controls. The company now employs in excess of 180 people and demonstrates an unrivalled commitment to innovation, quality and excellent customer service.
Inflexion invested in CP Electronics in January 2014 through its investment in Aspen Pumps. With a best-in-class product suite and international distribution network, the company had enjoyed rapid growth. Working alongside the ambitious management team, led by Marcus Martin, Inflexion encouraged investment in the sales function to drive core market growth in the UK. Further investment was made into new product development and into the infrastructure of the business to ensure a sustainable platform for future growth. Inflexion also introduced a number of key individuals to the team; the successful CEO and Chairman of Aspen Pumps took active Board roles and Inflexion introduced an experienced international operator to help develop further penetration of the attractive European market. Under Inflexion’s ownership, revenue and profitability has grown in excess of 40%, whilst staff numbers have increased over 35%.
Simon Turner, Managing Partner at Inflexion, commented “In just over two years we have helped CP Electronics cement its leadership position in the UK market and create a sound platform from which to further expand internationally. Innovation and product excellence are at the heart of the company’s success, driven by the ambition of the management team. We wish them every success for the future with Legrand.”
Marcus Martin, CEO of CP Electronics, commented “I would like to thank Inflexion for its continued support and commitment to our business. Together we have invested into our people and market leading capabilities, furthering our leadership position and are very well poised for the next stage of growth.”
The sale process was led by Inflexion’s Malcolm Coffin. Inflexion and CP Electronics were advised by Catalyst Corporate Finance and Jones Day.