Add-on Acquisition • Electrical Equipment

Thomas & Betts Acquires Cable Management Products

On October 1, 2010, Thomas & Betts acquired electrical equipment company Cable Management Products from LDC for 110M USD

Acquisition Context
  • This is Thomas & Betts’ 3rd transaction in the Electrical Equipment sector.
  • This is Thomas & Betts’ largest (disclosed) transaction.
  • This is Thomas & Betts’ 2nd transaction in the United Kingdom.

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M&A Deal Summary

Date October 1, 2010
Target Cable Management Products
Sector Electrical Equipment
Buyer(s) Thomas & Betts
Sellers(s) LDC
Deal Type Add-on Acquisition
Deal Value 110M USD

Target Company

Cable Management Products

Birmingham, United Kingdom
Cable Management Products Ltd is a major player in the global cable management market with a broad spread of brands and a comprehensive range of quality products. It brings together the immense expertise of market leading brands such as Adaptaflex, Elkay and Kopex along with specialised brands Harnessflex and Pro Teq.
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Buyer Overview 1

Buyer

Thomas & Betts

Memphis, Tennessee, United States

Category Company
Founded 1898
Sector Electrical Equipment
DESCRIPTION

Thomas & Betts is a designer and manufacturer of connectors and components for electrical and communication markets.


Deal Context for Buyer #
Overall 5 of 5
Sector: Electrical Equipment 3 of 3
Type: Add-on Acquisition 5 of 5
Country: United Kingdom 2 of 2
Year: 2010 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-23 PMA AG

Uster,

PMA AG is a international manufacturer of technologically advanced, high-quality cable protection systems.

Buy €85M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-11 Thomas & Betts Communications Products Business

United States

Thomas & Betts Communications Products Business, is a manufacturer of communication products.

Sell $78M

Seller Profile 1

SELLER

LDC

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 3.9B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

LDC is the private equity and investment arm of Lloyds Banking Group. LDC invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. LDC was formed in 1981 and is based in London.


Deal Context for Seller #
Overall 31 of 210
Sector: Electrical Equipment 2 of 5
Type: Add-on Acquisition 14 of 97
Country: United Kingdom 29 of 204
Year: 2010 6 of 8
Size (of disclosed) 31 of 62
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-24 St. Tropez

Santa Clarita, United Kingdom

St Tropez is the UK’s No. 1 self tanning brand.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-01 Omega Red Group

Nottingham, United Kingdom

Omega Red Group is the U.K. market leader in the specialist design, supply, installation, testing and maintenance of electrical earthing and lightning protection systems.

Sell -