CMD, based in Rotherham with a showroom in London, integrates power and technology with furniture for a broad range of large scale office and commercial markets. It designs, manufactures and customises a complete range of workplace power management products for below the floor (e.g. busbar, floor boxes) and above the floor (e.g. power modules, CPU supports, monitor arms and cable management solutions) installations. The company’s products and expertise help architects, designers, office managers and contractors to quickly, easily and attractively run power and technology in new construction and retrofit commercial projects. CMD now provides fast-growing UK, European and Middle Eastern commercial and office markets with easy, single-source customisation and manufacturing capability.
IDEAL is the market leader in electric power control and management. Its core business, wire connectors, are found in virtually any light switch or junction box in North America and around the world. Jim James, Chairman and CEO of IDEAL believes there are tremendous synergies between CMD and the company’s new Advanced Power Solutions platforms, Audacy ® Wireless Lighting Control and Power Puck™ a revolutionary mobile device charging system being launched in international airports this spring.
Mr James commented: “This is a great fit for us, CMD strengthens our ability to help large scale businesses simply and seamlessly expand power and technology throughout their workspaces. Their technical expertise and market reputation will help us accelerate European acceptance for both our new wireless lighting control and mobile device charging systems.”
The Sentio team comprised Ian Marwood and Bridie Robinson and the transaction represented the culmination of an 8 year relationship with the company Ian and Bridie also advised Steve Cole and Ron Cooper on their management buyout in 2008, funded by an integrated finance package provided by the Total Capital Finance division of Royal Bank of Scotland. They have continued to provide advisory services ever since.
Bridie Robinson commented: “It has been gratifying to see Steve and Ron successfully navigate the challenges of the recession, whilst positioning the company for growth as markets recovered from 2012. With the full support of RBS as the shareholder backing the buy-out, the business has enjoyed remarkable success in recent years. The sale to Ideal Industries provides a well deserved reward to the shareholders for their hard work and commitment over the last eight years but also promises an exciting future for the business.”
Legal advice to the vendors was provided by Matt Ainsworth and Katherine Munn of Irwin Mitchell in Sheffield, with tax advice provided by Chloe Ellis and Richard Wilson of RSM in Leeds.