Catalyst Corporate Finance has advised the shareholders of Aspen Pumps, which designs and manufactures air conditioning pumps, on the £105 million sale of the business in a secondary management buy-out backed by 3i Group.
The business was previously backed by Inflexion Private Equity. Under Inflexion’s ownership Aspen has seen sustained growth, focusing on product innovation.
Catalyst designed a sale process that would achieve the objectives of both Inflexion and the management team, whilst providing access and information for interested parties to make their investment decision.
Following a marketing process to a range of sponsors, both in the UK and USA, 3i backed the existing senior management team led by Adrian Thompson.
Andy Currie, managing partner at Catalyst, who led the transaction supported by Birmingham-based director Jeremy Harrison, said: “It is a privilege to have worked on this transaction. Aspen is a world class British business with a great management team. I have no doubt they will continue to go from strength-to-strength and I wish them all the best.”
