Clearwater International UK advises LDC on the MBO of Stuart Turner
Clearwater International has advised LDC on the MBO of leading water pump and pressure solutions business Stuart Turner, including raising a significant debt package to support the acquisition. Working capital facilities have been provided by RBS with acquisition debt from Barings.
Founded in 1906, with strong heritage in engineering excellence and product innovation, Stuart Turner has an established reputation for high-quality products for the commercial and domestic markets, including a patented solution for mains water pressure issues.
Stuart Turner is led by CEO Mark Williams and Financial Director Malcolm Harris, and employs over 100 people. The business has achieved significant growth over the past six years generating turnover over €24m for the financial year ending September 2016.
Following LDC's investment, Stuart Turner plans to accelerate its targeted acquisition strategy in the commercial pump sector and adjacent product categories. This follows the business' acquisition of two leading UK pump manufacturers, TWS and Allan Aqua, in the last two years.