3i has acquired UK-based Aspen Pumps, a maker of condensate pumps, for 105 million pounds. The seller was Inflexion.
Aspen Pumps the globally recognised market leader within the condensate pump market is pleased to announce its acquisition by 3i.
Since Aspens acquisition by Inflexion in 2007, the business has enjoyed a period of consistent growth and has almost trebled in size. The double Queens Award winning company now has a global distribution network spanning over 106 countries.
Aspen has now chosen private equity company 3i to support ambitious plans for growth. 3i boasts over 65 years’ experience in helping to develop and grow businesses. With global assets in the region of £13bn, their experience in driving forward private equity funded companies is second to none. Working collaboratively with 3i, Aspen plans on reinforcing its international presence.
Adrian Thompson Chief Executive for Aspen Pumps said; “Over the last 7 years, Inflexion have been an excellent supporter of Aspen and have worked closely with the management team. Moving forward we are delighted to be partnering with 3i and have been impressed with their ambition for the business. Aspen can benefit greatly from their experience supporting businesses achieve international expansion and are excited by the opportunity to continue our successful growth with a supportive and insightful partner.”
Pete Wilson, 3i Partner, said: “Aspen is a great fit with our strategy of supporting mid-market companies to grow internationally. It is an excellent business, with best-in-class products addressing structurally growing, global markets. We look forward to working with the team to continue Aspen’s highly successful development through further international growth and product range expansion, as well as actively supporting complementary acquisition opportunities.”
Looking ahead, Aspens primary focus will be to continue to deliver market leading products and to further develop its global links through relationship development and acquisitive growth.
For more information, please contact email@example.com or visit www.aspenpumps.com