One Equity Partners acquires Brush Group

OEP has also supported Brush in its acquisition of electrical engineering company Aprenda, which serves clients in the power distribution industry.

The GP’s previous investments in the industrial manufacturing sector in Europe include earthmoving machinery specialist Usco, which the GP acquired in 2017. OEP also acquired Germany-based Walterscheid Powertrain Group in March 2019.

One Equity Partners is currently deploying equity via One Equity Partners VII, which held a final close in October 2019 on $1.75bn. The vehicle deploys equity tickets of $30-300m, targeting European and North American businesses in the healthcare, industrial and technology sectors.

Prior to Brush, OEP’s most recent deal in Europe was its investment in listed Switzerland-based circuit board company Cicor in March 2021.

The GP registered its eighth fund in March 2021, according to Unquote Data.

Company
Founded in 1889 and headquartered in Ashby de la Zouch, Brush Group produces a range of electrical power generators and motors, as well as transformers, control and monitoring systems and switchgears. The company also provides services for its products including servicing, monitoring and upgrades. It serves sectors including utilities, industrials and maritime.

Brush employs 1,200 staff and has operations in Europe, the US, South America and Asia.

According to its latest publicly available accounts, Brush Electrical Machines posted 2019 revenues of £25.4m, versus £35m in 2018. Brush Transformers posted turnover of £16m in 2019, compared with £18.1m in 2018.

People
One Equity Partners – Ori Birnboim (managing director); Steve Lunau (managing director).
Brush Group – Chris Abbott (CEO).

Advisers
Equity – Dechert (legal).

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