CBPE Capital has acquired a majority ownership position in IDEAL Networks. CBPE is acquiring the business from its former parent, IDEAL INDUSTRIES Inc and will be investing alongside the incumbent management team led by Paul Walsh, CEO. Terms of the transaction have not been disclosed.
Paul Walsh comments: “We are delighted to be working with CBPE and look forward to establishing IDEAL Networks as a successful, independent market leader. IDEAL INDUSTRIES has been a supportive owner and has enabled us to reach this stage of our development. With CBPE, we are confident that we have found a partner that will provide valuable input as we pursue our exciting growth plans.”
IDEAL Networks provides easy to use hand-held testers which improve the productivity of those installing, testing and maintaining network cabling and services. IDEAL Networks is a global business, with sales across EMEA, North America, Latin America and Asia.
The management team involved in the acquisition include Chief Executive Officer Paul Walsh, Chief Finance Officer Scott Paterson, Development Director Peter Kent, Operations Director Russell Stratton and Marketing Director Tim Widdershoven.
“Business will continue as normal across the world with no interruption of supply through our distribution partners. Customers will continue to receive the outstanding service they have come to expect, and product names will remain unchanged,” says Paul. “What will change is our ability to respond even faster to market needs through innovation and we will see the company brand evolve over the coming years, but not straight away.”
IDEAL Networks is the first to offer a “Pay As You Test” option for its cable certifier as part of its award winning Test4Less program. Following in-depth customer research, the company has several innovative new product launches planned for 2019.
Mathew Hutchinson, Partner at CBPE Capital LLP comments: “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.”