Sun European Partners, LLP (“Sun European Partners”) today announces that one of
its affiliates has acquired the Invensys Appliance division from its parent company Schneider Electric,
the global specialist in energy management, based in France. Upon completion of the transaction,
Invensys Appliance will become the Robertshaw Controls Company (“Robertshaw”).
Robertshaw is a leading design, engineering and manufacturing company that sells the world’s most
extensive range of critical components and control systems used to regulate all major functions of
white good appliances such as cooking, refrigeration, laundry and dishwashing machines, in both the
residential and commercial sectors. Its products include electromechanical and electronic controls
supplied under the globally recognised Robertshaw and Ranco brand names to leading international
white goods original equipment manufacturers (OEMs).
Headquartered in Carol Stream, IL, USA, the company employs approximately 5,600 people across
22 international engineering, manufacturing and distribution sites in North America, South America,
Europe and Asia-Pacific. In the financial year ended 31 March 2013, the company achieved
revenues of £331m.
On completion of the transaction, Robertshaw will be well-positioned and have the appropriate capital
structure to maximise the opportunities presented by the growing global appliance market, driven
predominantly by an improving market cycle fuelled by increasing consumer spending and an ongoing
housing market recovery.
Marc Leder, Co-CEO at Sun, said; “Robertshaw has a strong heritage and historical presence in the
white goods appliance market. The quality and design of its products coupled with its many long-term
customer relationships have helped to establish this company as an industry leader. As the broader
economic environment improves, we expect to see greater potential in the global appliance market to
emerge. We are looking forward to working hand in hand with the management team in the pursuit of
these prospects.”
Sun European Partners has significant experience acquiring manufacturing divisions from large
corporates. Among its affiliated portfolio companies it has a number of leading businesses including
Albéa (carve-out from Rio Tinto), one of the world’s leading packaging companies for the make-up,
fragrance, skincare, personal and oral care markets, headquartered in France; Bundy Refrigeration
(carve-out from TI Automotive), a manufacturer and supplier of fluid carrying cooling system
components for the domestic refrigeration industry; and DBApparel (carve-out from Sara Lee), a
market leader in the design, manufacture and distribution of branded intimate apparel.
Contact:
Fergus Wheeler
FTI Consulting
Tel: +44 (0) 20 3727 1522