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UK - Close Growth Capital exits Goodridge UK

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Close Growth Capital (CGC), the provider of combined equity and debt funding, announced today that it had sold its stake in Goodridge UK to the incumbent management team. CGC first invested in Goodridge in 2001 providing a sub ТЃ10m funding package. Goodridge UK has an annual turnover of ТЃ25m, an EBIT of ТЃ2m, and employs around 200 staff.

Goodridge UK is the world's leading supplier of hose and fittings, and specialises in providing high-performance fluid transfer systems to both the two and four wheel racing industry, for both the aftermarket and OEM (original equipment manufacturer) customers. Its products are used by Formula 1, NASCAR, and World Rally Car teams, as well as some of the world’s largest all-terrain vehicle manufacturers and prestige automotive brands. Last year the business was named the Motorsport Industry Association's Business of the Year and received numerous quality awards from its customers. Based in Exeter, the company has offices across Europe, North America and Japan.
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