Elaghmore acquires display screen provider Gardners

The deal is the sixth transaction made by Elaghmore's £60m debut private equity fund Elaghmore I, which closed in 2016. The vehicle typically writes equity cheques ranging from £5-10m.

Under its new owners, the business will look to increase its production capacity and will work alongside Elaghmore portfolio company and retail display unit manufacturer Kesslers International. However, though the companies will collaborate to provide their respective clients with a wider range of products, they will continue to operate autonomously.

Gardners' management team will remain with the business following the deal.

Company
Founded in 1975 and headquartered in Cardiff, Gardners manufactures and installs digital and print display screens for the retail, logistics, construction and leisure sectors. The company has a headcount of 100 and generated an operating profit of £457,000 from a turnover of £11.4m in the year ending in July 2017, according to publicly available documents.

People
Elaghmore Partners – Greg Koral (partner).
Gardners – Richard Courtney, James Morris (directors).

Advisers
Equity – Mills & Reeve (legal); RSM Global (corporate finance); Armstong (commercial due diligence).

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