Inflexion scores 14x on Aspen Pumps sale

Inflexion supported the company through internationalisation and a buy-and-build strategy. The company notably expanded into China and India.

3i stated it will support Aspen in continuing its international expansion.

Previous funding
Inflexion supported the management buyout of Aspen Pumps & BBL Engineering in March 2007 in a deal understood to be worth £25m,  according to unquote" data. The transaction was supported with debt supplied by Lloyds Acquisition Finance.

In October 2007, Inflexion supported Aspen's acquisition of Orchard Electronic, a manufacturer of printed circuit boards and mini air-conditioning pumps.

Company
Aspen manufactures mini pumps, used to remove water from air conditioning and refrigeration systems. It also sells a range of products for air-conditioning installers and engineers. The company is currently active in 100 countries.

Established in 1992, the business is based in Hailsham, Sussex. Aspen reported EBITDA of £10m in 2014.

People
Simon Turner is managing partner at Inflexion. Adrian Thompson is CEO of Aspen Pumps. Peter Wilson is a partner at 3i.

Advisers
Vendor – Catalyst Corporate Finance (Corporate finance); Jones Day (Legal).
Equity – Baird (Corporate Finance); Travers Smith (Legal); Deloitte (Financial due diligence, tax); LEK (Commercial due diligence); Arthur J Gallagher (Insurance due diligence).

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• Topics
• Buyouts
• Exits
• UK / Ireland
• Inflexion Private Equity
• 3i
• Unq2015Mar