Rutland acquires Southgate Global

The deal is the 11th platform investment from Rutland Fund III. The vehicle held a final close in January 2015 on EUR 263m and generally commits GBP 10m-50m per investment, targeting businesses valued in the GBP 20m-150m range. Rutland specialises in complex deals, including for companies requiring operational or strategic change.

Rutland intends to support Southgate in the development of the company's global footprint and manufacturing capabilities, the GP said in a statement. The firm will also assist the company with potential targeted acquisitions.

Investec Growth and Leveraged Finance provided a debt package to support the deal.

Rutland invested in infrastructure service JSM Group in February 2021, as reported.

Click here to view a video Q&A with Rutland Partners' David Wardrop on unquote.com.

Company
Southgate supplies packaging machinery, equipment and consumables. The company is headquartered in King's Lynn, with distribution centres in Birmingham and Brussels. The company has 700 distributors in the UK. In addition to its current portfolio, the company is currently developing a range of environmentally friendly packaging alternatives, according to a statement.

According to its latest publicly available financial records, Southgate posted 2019 revenues of GBP 33.4m, versus GBP 27m in 2018.

People
Rutland Partners – Oliver Jones, Matthew Hamilton-Allen (investment directors).
Southgate Group – Craig Turner (CEO).

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