Sun European Partners acquires Invensys Appliance for £150m


invensys appliancePrivate equity firm Sun European Partners has bought the Invensys Appliance division from its parent company Schneider Electric for £150m.

The division posted revenues of £1.46bn for the financial year to end March 2013.

Sun said that it has significant experience acquiring manufacturing divisions from large corporates and has Albéa, which is a carve-out from Rio Tinto, and former TI Automotive unit Bundy Refrigeration among its portfolio companies.

Sun co-CEO Marc Leder said, “Robertshaw has a strong heritage and historical presence in the white goods appliance market.

“The quality and design of its products coupled with its many long-term customer relationships have helped to establish this company as an industry leader.

“As the broader economic environment improves, we expect to see greater potential in the global appliance market to emerge.”

Last year the firm bought bed retailer Dreams via a pre-pack administration and then repaid £23m of its debts.

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