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The management team at Ideal Networks, backed by London-based private equity investor CBPE Capital LLP, has acquired the maker of portable handsets for data cable and network testing, validation and certification from Ideal Industries, Sycamore, IL. Terms of the transaction have not been disclosed.
Paul Walsh, CEO, led a group of top management in arranging the acquisition. “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.”
Chief Finance Officer Scott Paterson, Development Director Peter Kent, Operations Director Russell Stratton and Marketing Director Tim Widdershoven were part of the team involved in the acquisition.
The company said distributor and customer relationships and product lines will not change following the change of ownership.
“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 Walsh. “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.”