One of the UK’s leading manufacturers of power and distribution transformers, Winder Power, has secured a multi-million pound combined debt and equity funding package from Connection Capital to support a management buyout of the business.
Hundred-year-oldWinder Power, which has risen to become one of the most trusted suppliers of electrical handling equipment for the power industry, has seen a significant increase in demand for its power generation and handling equipment and services with the switch to increased renewable energy generation across the UK over the last decade.
The firm employs over 100 people at its 80,000 sq ft manufacturing facility Grangefield House, Richardshaw Road, and customers include Thames Water, Euro Tunnel, ASDA and Drax.
The deal, which was originated and led by independent corporate finance boutique CorpFin, based in Harrogate, will see the exit of previous private equity investors Mercia Asset Management, which has disposed of its significant minority shareholding.
Winder Power MD Paul Matthews said: “This funding opens a new chapter for the business at an incredibly exciting time for our industry. The progress we have made to establish the Winder Power brand as the leader in the sector since our original MBO in 2008 has really paid off. We are now well positioned to enjoy another decade of growth, with infrastructure investment increasing across most of our sectors and markets in the UK at a time when we have an unrivalled reputation and capacity.”
Connection Capital provides £3m-£12m of private equity and debt funding to high-growth businesses in different sectors across the UK and has previously invested in Virgin Wines, Wagamama, and TeamSport Go-Karting.
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