Portfolio News

LDC-backed Pelsis completes significant acquisition in the US

Pelsis, the leading European manufacturer of branded pest control products, has acquired US-based Curtis Gilmour in a deal that will see it significantly expand its global presence.

The acquisition follows LDC’s multi-million-pound investment in Pelsis in August 2017 to accelerate its global growth strategy. The enlarged group will now operate from 15 locations worldwide, selling into over 80 countries employing more than 420 people worldwide. Specifically, Curtis Gilmour will add significant scale in the US through its Georgia and Indiana operations and will also broaden Pelsis’ European footprint through its manufacturing facilities in Wales and Sweden.

The two firms will operate side-by-side as subsidiaries, creating a consolidated portfolio that boasts a turnover of €125m.

Pelsis manufactures, supplies and distributes a wide range of pest control products to both the professional and domestic markets. Customers include independent pest controllers, retailers, and global facilities management providers.

Headquartered in Knaresborough, North Yorkshire, Pelsis was founded in 1984 as a fly killer brand. Since then, Pelsis has diversified and grown internationally through a commitment to innovation, new product development and quality customer service.

Curtis Gilmour’s brands include the highly respected B&G Equipment line of professional sprayers, Curtis Dyna-Fog premium fogging products, as well as the Agrisense and Silvandersson trapping and monitoring brands.

The acquisition is the first for Pelsis since LDC invested in the business in 2017 to support its buy-and-build strategy.

Peter Mangion, CEO of Pelsis Group, said: “LDC’s investment and support has allowed us to consolidate our market-leading position in Europe. The bringing together of these brands creates an even greater range of services and products to our customers across the USA and Europe.

“These are exciting times for Pelsis Group and we’re looking forward to expanding into further markets with LDC’s continued support.”

Dale Alderson, investment director at LDC, added: “The synergies this deal creates will bolster the position of the combined group as one of the world’s pre-eminent providers of pest control products and equipment, providing an even stronger platform for future growth.

“This is a major milestone for both businesses and we look forward to continuing to support Peter, his team and the wider group as they deliver their international growth ambitions moving forward.”

Pelsis was advised by Rothschild and Walker Morris. KPMG undertook financial due diligence on Curtis Gilmour.

 

Article Footnotes

Notes to Editors

  1. LDC is part of the Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority
  2. LDC back ambitious management teams from UK-based companies seeking between £2m and £100m of equity for management buy-outs, institutional buy-outs or development capital transactions.
  3. LDC invests in a broad range of sectors and has particular experience in Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.
  4. LDC has a UK regional network of 9 offices.