Seller

Acquired by

buyer

Rickitt Mitchell has advised Auto Marine Cables on its acquisition by PHD Equity Partners

- Exit deal

- October 2019

- Value: Undisclosed

Twin-track process with offers received from trade buyers and private equity

A favourable exit route was secured which also provided capital to accelerate growth

An investor was found who closely aligned with AMC’s ethos and values

Client Background

Auto Marine Cables (AMC) is a specialist manufacturer of low voltage cable and accessories with a long history of family ownership, dating back to 1964.

Under the stewardship of Peter Hammond (CEO and owner), AMC had grown to revenues of £14m and EBITDA in excess of £2m.

In 2018, the shareholders of AMC appointed Rickitt Mitchell to search for an investor or acquirer of the business.

Rickitt Mitchell has advised Auto Marine Cables on its acquisition by PHD Equity Partners
Rickitt Mitchell has advised Auto Marine Cables on its acquisition by PHD Equity Partners

The Outcome

AMC received a significant investment from PHD private equity which provided funding to accelerate its growth plans via expansion of product range and export capabilities.

The investment also enabled the shareholders to cash out 50% of their value on day-1, whilst still sharing in the significant potential upside that is projected.

Peter Hammond remained with the business to spearhead its growth alongside the new investors.

How we added value

Thorough preparation and market research ensured Rickitt Mitchell was well placed to articulate the opportunity to potential investors.

The protection of culture and employees was extremely important to the shareholders. Rickitt Mitchell worked to ensure the right investor was found who fully aligned with those values.

Robust negotiation on deal structuring ensured a tax efficient and favourable treatment of shareholder value was successfully obtained.

“Rickitt Mitchell acted with fantastic commitment, a sense of fairness and their detailed understanding of the complexity of the deal made the negotiations much easier to navigate. Their hands-on approach and attention to detail was outstanding - they were a great team to work with. I’d highly recommend them.”

- Peter Hammond |CEO & Owner | AMC
Seller

Acquired by

buyer

Exit deal

Value: Undisclosed

Oct. 31, 2021

Seller

Joint Venture

buyer

Growth deal

Value: Undisclosed

Oct. 13, 2021

Seller

Acquired by

buyer

Exit deal

Value: £9m

Sept. 30, 2021

Seller

investment from

buyer

Exit deal

Value: Undisclosed

Feb. 28, 2021