Investment firm RDCP has acquired Coventry-based consumer durables manufacturer Whitefurze.
Whitefurze manufactures products across food storage, housewares, storage and gardening categories.
The business operates from three sites, including 156,000 sq ft of warehousing and a 42,000 sq ft manufacturing facility in Nuneaton, supported by 34 injection moulding machines and robotic handling systems.
Founded in 1978 by Philip Lanni, the company has grown into a UK manufacturing business supplying wholesalers, national retailers and independent customers.
It employs more than 100 staff, produces over 1,200 SKUs and distributes across the UK and to 22 export markets using its own delivery fleet.
The acquisition marks a new phase for the business as RDCP looks to scale operations further.
RDCP is a London-based family office investment firm and now operates nine platform companies employing more than 2,000 people, with an enterprise value of around $650m.
The transaction was executed by RDCP’s deal team comprising Sameer Rizvi, Iryna Dubylovska, Martin O’Donoghue and Paul Clunn, who will work alongside Whitefurze managing director Tracey Stone and finance director Steve Hockin.
Roger Buckley, Ben Dawson and Oliver Parker of BDO advised the seller, with AURELIUS Finance Company providing debt facilities to support the acquisition and ongoing working capital requirements.
Tracey Stone, managing director of Whitefurze said: “Whitefurze has built a strong reputation for quality and reliability, supported by our UK manufacturing operations and a committed team. We are proud of the platform we have today and the position we hold in the market. Partnering with RDCP marks an exciting next chapter for the business. Their long-term mindset and commitment to investing in people and operations gives us confidence as we continue to grow and expand.”
Financial terms of the transaction were not disclosed.
