Palatine acquires ZyroFisher from LDC

As part of the deal, LDC reinvested alongside Palatine to support the firm's expansion.

Since LDC's initial investment, ZyroFisher has expanded its range of brands, developed its own brand Altura, expanded its distribution network and strengthened its senior team.

The company currently has annual sales of £75m.

Palatine is currently investing from its third flagship fund, which closed on its hard-cap of £220m in June 2015.

Debt
The transaction was supported by a new debt package from European Capital and Lloyds Bank Commercial facilities.

Previous funding
ZyroFisher was originally formed in April 2016, when LDC backed the management buyout of Zyro and supported the simultaneous acquisition of Fisher Outdoor Leisure. The transaction was valued in the £20-40m range.

Company
Based in Darlington, the business supplies major retailers such as Wiggle, Halfords and Evans, as well as 2,000 independents, providing a route to market for dozens of specialist brands with sales, marketing, distribution and customer services support. 

People
Palatine Private Equity – Ed Fazakerley, Andy Lees (partners); Kieran Lawton (investment director); James Painter (investment manager).
LDC – John Garner (head of LDC in Yorkshire).
ZyroFisher – Matthew Barker (CEO).

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• Topics
• Buyouts
• Exits
• UK / Ireland
• Consumer
• United Kingdom
• LDC
• Palatine Private Equity