UK - LDC-backed Ultimate Products acquires Intempo

In 2005, LDC backed the buyout of Ultimate Products from chairman Barry Franks and managing director Simon Showman, in a deal valued at £26m. LDC invested £11m in exchange for a 46% stake in the company. Both Showman and Franks retained minority holdings in the business, while Showman continued as CEO. The investor planned to expand the company through numerous acquisitions. At the time of the transaction, LDC hoped to double Ultimate's turnover of £42m.

Intempo, which was founded in 2003, supplies iPod docking stations and digital radios to high street retailers including Argos, Amazon, ASDA, John Lewis, Comet and Toys R Us. The existing management team will remain, while founder Bernadette Spofforth will take control of Ultimate's in-house brands.

It is expected that the acquisition will strengthen Ultimate's position in the audio brand sector.

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• Topics
• Expansion
• UK / Ireland
• Consumer