Pearl Fittings Ltd

Sun European Partners, the European adviser to Sun Capital Partners Inc, has acquired a majoritystake in Pearl Fittings Ltd. The value of the transaction has not been disclosed. Since March 2006, Endless had held a majority stake in Pearl Fittings, which in March 2006 bought the business of the former Oystertec. However, following Pearl’s strong growth, shown by sales increasing from £80m to £120m in a short time and the copper price rise, Endless decided to bring in another investor. The deal reduces Endless’s stake to a minority holding allowing Endless to realise a cash payment. Endless will continue to be involved in the company.

Company

Pearl Fittings manufactures and distributes plumbing fittings to the retail and construction markets through IBP Ltd and manufactures and distributes hydraulic hoses and fittings to all sectors of the fluid power industry through Europower Ltd. Its products are sold under the Conex and Banninger brands. The turnover of the group in 2006 will be £120m. The Leeds-headquartered company employs approximately 1,200 people and has manufacturing facilities located at Whitby and Dundee in the UK, as well as in Poland and Spain. The company expects to grow by building upon its market recognition in Europe and by expanding its position in the US.

People

Philip A. Dougall led the deal for Sun European Partners. Trevor Murch is the executive chairman of Pearl Fittings Ltd. Garry Wilson and Warwick Ley led the partial exit deal for Endless.

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• UK / Ireland
• Consumer