Cradley Heath roof company undergoes MBO
Cradley Heath based roof safety specialist Kee Safety Group Ltd has undergone an MBO in a deal supported by Intermediate Capital Group.
The sale has seen mid-market private equity firm LDC the business.
The deal marks the end of a successful 10-year partnership during which LDC supported the management team to increase revenues to more than £100 million, an increase of more than 350 per cent since the start of the partnership, as well as helping Kee Safety to increase headcount to 780 people across 10 countries, an increase of more than 400 per cent over the same period.
The transaction also provides an exit for majority shareholder Investcorp.
Established in the UK in 1934, Kee Safety now sells its products across more than 60 countries worldwide,
LDC first backed the Midlands-based business in 2011 and has worked with management to drive growth organically and through a targeted buy-and-build strategy. This has included the acquisition of 27 complementary businesses over the last 10 years, helping to expand its products and services and grow its international footprint in Europe, North America, Asia and the Middle East.
Matt Newbold, Investment Director at LDC, said: “Throughout our 10-year partnership, Chris and the team at Kee Safety have consistently delivered on their ambitious, acquisitive growth strategy. Since we first invested in the business in 2011, the team has successfully grown Kee Safety to become an international leader in its field. We wish them all the best on the next stage of their growth journey.”
