Elektron Technology plc har avyttrat Bulgin till Equistone

Livingstone’s Industrial sector team has advised Elektron Technology plc on the divestment of Bulgin to Equistone, the leading European mid-market private equity investor, for £105m.

Founded in 1923 and headquartered in Cambridge, Bulgin develops and manufactures connectors and related components for harsh-environment applications, in sectors including industrials, transport & infrastructure and medical technology. It has locations in the UK, North America, Asia-Pacific and North Africa. The company supplies c.92,000 end users across Europe, North America and Asia-Pacific through its direct sales team and a network of third-party distributors. Bulgin’s management has successfully invested in the development of new cutting-edge fibre and sensing products and rationalised its product range and distributor base. The business employs c.680 people and has rapidly grown to generate revenues in excess of £30m at market-leading EBITDA margins over recent years.

Current Elektron Group CEO and Bulgin Executive Chairman, John Wilson, will lead Bulgin alongside the rest of the incumbent management team under Equistone’s ownership.

John Wilson, Executive Chairman of Bulgin, commented: “I would like to thank the Livingstone team for being a hugely supportive and committed partner throughout the process. Their commercial and technical knowledge of our market was invaluable in delivering Bulgin the right partner in Equistone and the best possible outcome for all of the stakeholder groups involved.”

Keith Daley, Executive Chairman of Elektron Technology plc, commented: “We chose to work with Livingstone due to their experience and expertise in working with companies like Bulgin and in corporate divestments more widely, and they haven’t let us down. Their market knowledge alongside a thorough and detailed approach and 100% commitment, has proven invaluable for us in securing the best partner to take Bulgin forward and the right deal for Elektron Group as a whole.”