Saturday, September 24, 2022

Investment firm swoops for Lincolnshire agricultural equipment specialist

The listed Japanese conglomerate, Marubeni Corporation, has signed an agreement to divest Spaldings to investment firm, Inspirit Capital.

Established in 1956, Spaldings has grown to be the UK and Ireland’s largest distributor of tillage aftermarket equipment, as well as an emerging player in professional groundcare, forestry and industrial products.

Lincolnshire-based Spaldings employs over 140 people and has a network of over 30,000 customers. The business also benefits from a number of exclusive or preferred distribution agreements with product manufacturers, as well as an in-house design team focused on the Spaldings own brand product range.

Inspirit Capital is a London-based investment firm that specialises in acquiring businesses that are no longer core to their parent company’s strategic objectives and require a different ownership structure to achieve their full potential.

Will Stamp, founding partner at Inspirit Capital, says: “We are very pleased to be investing in Spaldings, which again reinforces Inspirit’s status as a trusted counterparty for large corporations. We have been impressed by the loyal customer base at Spaldings, as well as the best-in-class service offering. We are excited about the prospect of continuing to grow the business, both organically and through select acquisitions.”

Inspirit has assumed ownership with immediate effect and is making the investment from Inspirit Fund I. As part of the transaction, the business will also benefit from a funding line with Leumi ABL in excess of £10million.

Inspirit was advised on the transaction by BDB Pitmans (legal), FRP Advisory (debt), European Valuations (collateral review) and LSH (property).

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