CBPE Capital has acquired a majority stake in IDEAL Networks, a provider of portable handsets for data cable and network testing, validation and certification. The private equity team is investing alongside the incumbent management team led by chief executive Paul Walsh.
IDEAL Networks, which has been acquired from parent IDEAL Industries, provides testers which aim to improve the productivity of those installing, testing and maintaining network cabling and services.
“IDEAL Industries has been a supportive owner and has enabled us to reach this stage of our development,” said Walsh.
“With CBPE, we are confident that we have found a partner that will provide valuable input as we pursue our exciting growth plans.”
As well as Paul Walsh, the management team involved in the acquisition included chief finance officer Scott Paterson, development director Peter Kent, operations director Russell Stratton and marketing director Tim Widdershoven.
Mathew Hutchinson, a partner at CBPE Capital, said: “IDEAL Networks has successfully established a reputation for quality and service in an attractive and growing market, and we are confident that the business will thrive under independent ownership.
“We will work with the management team and support their commitment to continue to offer innovative products and services which match the needs of the customer base.”
CBPE’s investment in IDEAL Networks was led by Mathew Hutchinson with support from Ben Lewis, James Whittington and Aqil Sohail. Mathew Hutchinson and Ben Lewis will join the Board of IDEAL Networks.
Reed Smith acted as legal advisers to CBPE and PMSI provided the commercial due diligence advice. William Blair acted as financial adviser to IDEAL Industries.