LDC backs Yorkshire-based Pelsis as it aims for global growth

Peter Mangion of Pelsis
Peter Mangion of Pelsis
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A YORKSHIRE-based manufacturer of pest control products is poised for rapid global growth.

LDC, the mid-market private equity investor, has backed the management buyout of Pelsis, which manufactures, supplies and distributes pest control products to the professional and domestic markets.

Its customers include independent pest controllers, retailers, and global facilities management providers.

Headquartered in Knaresborough, North Yorkshire, the business was founded in 1984 as a fly killer brand.

Since then, Pelsis has diversified and grown internationally. Today, the business operates across 11 locations in Europe, Asia and North America. It supplies customers in more than 80 countries and employs more than 270 people worldwide.

An LDC spokesman said: “Led by CEO Peter Mangion, the business has delivered significant growth, both organically and through acquisition, with sales growing from €9m to €90m over the past 10 years.”

The deal provides an exit for US-based private equity firm Wind Point Partners.

Mr Mangion said: “We have achieved significant growth over the past few years and have firmly established ourselves as a market leader in Europe.

“A focus on innovation and quality customer service are the hallmarks of our success and we’re committed to building on this.

“With LDC on board we have a new growth partner that not only provides us with the financial firepower to continue our expansion, but the strategic support and guidance that will enable us to capitalise on further opportunities in our core markets. I’m confident that we can continue to develop our offering and bring our market leading pest control solutions to a broader customer base worldwide.”

The transaction was led by John Garner, Dale Alderson, Dan Smith and Gareth Marshall from LDC in Leeds.

Mr Alderson said: “Pelsis is a fantastic Yorkshire business that has not only delivered growth on UK soil, but through a commitment to product innovation, has firmly established itself as a market leader on a global scale. The business has a strong management team that has an ambitious vision for future growth and we’re looking forward to working with the team on the next phase of their growth journey.”

Mr Garner added: “We have known the Pelsis business and Peter for more than five years and are delighted to have been able to back the team and invest in the business.

“The key attractions from the outset were clear. The business has a highly capable and ambitious management team, enjoys a market-leading reputation and has a global footprint in a fragmented market.

“This is exactly the type of business we want to back. There are businesses just like Pelsis right across Yorkshire, and we’re looking forward to building on our track record of supporting the growth ambitions of the region’s most exciting and ambitious businesses.”

Pelsis was advised by Rothschild (Rob Dunnett, Tim Day and Sam Hall) and Reed Smith, with due diligence undertaken by KPMG (Chris Stott).

LDC was advised on its investment by Deloitte (Martin Jenkins, Anil Gupta and Matt Nicholson) and Squire Patton Boggs (Jonathan Jones). Management was advised by Walker Morris and Park Place.

Debt facilities were provided by BlueBay Asset Management and RBS.

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