A Telford-based supplier of wiring accessories, EV chargers, LED lighting and portable power products has acquired a Rotherham-based counterpart in a £30m deal.

Luceco has purchased CMD’s parent company, Baltic Topco, from Rubicon Partners and management on a cash and debt-free basis.

Founded in 1984, CMD specialises in wiring accessories for commercial spaces, offering power distribution solutions and ergonomic products like its Miro monitor support arm.

CMD’s senior management will remain in place, continuing operations from their Rotherham headquarters.

For 2023, CMD reported revenues of £23.1m and an EBITDA of £4m. Luceco expects the acquisition to boost earnings in its first full year.

The £30m deal was funded through Luceco’s credit facility, with a post-acquisition debt-to-EBITDA ratio of 1.7x by August 2024.

John Hornby, chief executive officer of Luceco said: “Luceco has a well-established position as a leading supplier of wiring accessories to the residential market in the UK so CMD, with its leading position in the commercial wiring accessories market, is a very natural fit. The Group’s product development, manufacturing, and sourcing expertise will enable us to accelerate range innovation and improve CMD margins.

“We also see an opportunity to offer Luceco’s professional lighting range to CMD’s customer base of specifiers and contractors. The acquisition is in line with our M&A strategy and follows the successful acquisition of D-Line earlier in the year.”

Jon Holding, managing director of CMD said: “CMD has been successful over many years thanks to its hard-won reputation for consistently delivering excellent customer service. The management team and I are excited for the next chapter and look forward to growing the business with Luceco behind us.”

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