Rutland earns 1.5x on Pulse Home exit

The turnaround investor reaped a multiple of around 1.5x its original £27m investment.

Pulse is the second portfolio divestment from the £320m Rutland Fund II vehicle, following the sale of Attends Healthcare earlier this year for a 3.3x return.

Previous funding
Rutland acquired Pulse Home Products and the business of certain other domestic appliance brands from Alba Plc for £51.5m in 2007. The firm invested £27m from Rutland Fund II. CIT Bank provided debt facilities to support the acquisition.

Company
Pulse Home Products provides branded goods to the UK home products market. The firm has a portfolio of brands including Breville, Nicky Clarke, JCB, Bush, Dirt Devil, Hinari and Power Devil. Pulse designs the majority of its goods near Manchester, most of which are then manufactured in the Far East.

People
Mike Harris and David Wardrop led the deal for Rutland.

Advisers
Vendor - Taylor Wessing (Legal); KPMG (Tax).

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• Topics
• UK / Ireland
• Consumer
• Exits
• United Kingdom
• Rutland Partners
• Taylor Wessing
• KPMG
• Trade sale