Bulgin deal drives Infinite Electronics into Europe
Cambridge-based Bulgin is set to be part of a growing group of European connector companies for Infinite Electronics.
Current owner Equistone Partners Europe has agreed to sell its majority stake in Bulgin to Infinite of the US for an undisclosed sum. The minority stake is held by management after a buyout in 2019 and boosts Infinite’s move into Europe.
Bulgin was founded in 1923 and has over 75,000 end-users across a wide range of industries. Its focus on bespoke services and custom capabilities is supported by quick prototyping and a rapid response team.
Equistone acquired the business from Elektron Technology in 2019 for £105m, and has supported a new site in Tunisia and new headquarters in Cambridge, as well as investing in product development and implementing a new data and analytics platform to support sales.
Bulgin now has more than 670 distributor locations spanning 60 countries and six continents and the revenue increased from £30m to £46m. The business employs over 680 people across its locations in the UK, North America, Asia-Pacific and North Africa.
This comes as Infinite Electronics has entered into a definitive agreement to acquire the Cable Connectivity Group (CCG) from Torqx Capital Partners and TKH Group NV, a manufacturer of specialty cables and connectors.
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“By welcoming Bulgin to Infinite Electronics’ growing brand portfolio, we are better positioned to meet the increasing demand for reliable connectivity solutions for harsh environments,” said Penny Cotner, CEO and president of Infinite Electronics.
“Bulgin’s focus on mission-critical, customizable components with outstanding design and customer support aligns with our own longstanding reputation for delivering our customers what they need, when they need it most.”
“With Equistone’s support we have achieved strong growth over the last three years and expanded our global reach significantly,” said John Wilson, CEO of Bulgin.
“Joining Infinite Electronics’ portfolio provides the Bulgin brand with the scale and leverage opportunities required to accelerate access into its largest market in North America. Infinite Electronics and Bulgin share much in common – ambitious global growth plans and customer-centric values. This is an exciting milestone in the Bulgin brand’s journey.”
“We are proud to have worked with John and his team over the last three years to support Bulgin’s continued growth and development of a strongly differentiated market position,” said Paul Harper, Partner at Equistone. “The business has an excellent brand and is well-positioned for the future. We wish the team well on the next stage of their journey with Infinite Electronics, under whose ownership we expect they will continue to thrive in attractive global markets.”