Oct. 24, 2022
SYCAMORE, Ill. - IDEAL INDUSTRIES, INC announced today a strategic divestiture of CMD Limited (CMD), a leading designer and supplier of integrated above and below desk power distribution and ergonomic solutions. Rubicon Partners Advisors LLP, a London-based investment partnership focused on complex industrial businesses, acquired 100% of the business as IDEAL continues to focus on its core business.
“As IDEAL focuses on driving growth in our key markets, it was important to find the right home for CMD to enable it to flourish,” said Steve Henn, CEO, at IDEAL INDUSTRIES INC. “The company has an excellent pedigree of products and services, and the new owners see a clear opportunity to drive the business forward successfully as employees return to workplaces and offices.
CMD became part of the IDEAL INDUSTRIES, INC. portfolio in 2017. While part of IDEAL, they created solutions to meet the challenges of integrating power and audiovisual/data access for people working in offices and commercial spaces. They provided a wide range of products designed to be quick and easy to install and adaptable for contractors, clients and end-users.
RSM U.K. has assisted on a second transaction on behalf of IDEAL in two weeks, continuing to enable the company to focus on its key markets of professional electrician products, high power density connectors and charging systems.
“This investment by Rubicon presents a successful exit for IDEAL who acquired the business in 2017,” said Helen Brocklebank, corporate finance partner and head of M&A in the West Midlands at RSM U.K. “It enables CMD to push forward with its continued expansion of its innovative product ranges. As workers continue to return to offices, there is a renewed demand for high quality products and services to ensure workplace connectivity.”
About IDEAL INDUSTRIES, INC.
IDEAL INDUSTRIES, INC. is a global, diversified family-owned business designing and manufacturing superior products for the electrical, lighting and infrastructure industries. The 105-year-old company was founded in 1916 on the premise of forging ideal relationships with customers, employees, partners, and communities. The company has consistently grown and expanded under five generations of family ownership. For more information, visit www.idealindustries.com.
About RUBICON PARTNERS LLP
Rubicon Partners is a hands-on investment partnership focused on the acquisition of industrial businesses in Europe and North America. Over the past 29 years, Rubicon Partners has invested in 79 businesses across the manufacturing, distribution and service sectors, ranging in value from £15m to £250m. The company creates value by addressing ownership transitions and carve outs with operational and strategic issues in a hands-on manner.
Rubicon Partners’ investment focus is on complexity, both within individual companies as well as groups of businesses or portfolios. It has extensive experience in acquiring businesses from entrepreneurs, private families, management, corporates and private equity funds. The hallmark of its approach is certainty of execution and a long-term investment strategy, with the ability to add value to businesses over a longer time period than traditional private equity.
Rubicon Partners is a close-knit team of investment professionals with very strong operational and strategic capabilities, and with the expertise to work with management teams to grow companies to their full potential. It achieves this by establishing systems of rigorous financial and operational control and by providing an effective framework for strategic planning and execution. Rubicon Partners operates across offices in London and Munich with a team of 12 professionals. https://www.rubiconpartners.com.
About CMD LIMITED
CMD is a leading designer and manufacturer of power distribution and ergonomic solutions in the workplace and makes products such as workstation hardware and power track systems for use in the commercial office, retail and hospitality sectors.
Rubicon Partners acquired CMD as a part of engineering and distribution businesses owned by Wolseley plc and formed the CMD brand through the amalgamation of businesses from Form Fitting Ltd, Powerplan systems Ltd and DPG Ltd, promoting the addition thereafter of a broader suit of products such as CPU supports, cable management solutions and busbar systems. Ergonomics, Power Solutions & Cabling Systems for Offices - CMD (cmd-ltd.com).