Background
• Electra Partners led the £98.3 million buyout of CSG from BTP’s safety equipment division in 1998.
• Under Electra’s ownership CSG has evolved from a regional-based focus into the leading international fall protection business selling under two global brands, DBI-Sala and Protecta.
• Its extensive range of products address all primary fall protection categories in a wide range of industries including oil & gas, telecommunications and construction.
• Close Brothers advised on a recapitalisation of CSG in 2005 which raised $184 million of committed debt facilities to refinance the previous debt financing and return capital to shareholders.
Process & Outcome
Close Brothers was appointed as sole financial adviser on the disposal and ran a highly competitive process involving international strategic and financial purchasers.
Candover Partners acquired CSG for $565 million in June 2007.
David Symondson, Deputy Managing Partner of Electra Partners commented:
“CSG has been a very successful investment for Electra Partners. As a result of our flexible structure we were able to back the management team over a long time which enabled us to benefit from strategic decisions implemented in the early years. When the right time came for exit, Close Brothers managed a very high quality and creative process which was tailored to the specific characteristics of the transaction. Their anticipation and management of the key issues helped to ensure an excellent result for Electra Partners."
For more information regarding this transaction, please contact Andrew Cunningham, David Wardrop or Hamish Laing on +44 (0) 20 7655 3100.