Cabling and lighting firm buys peer in £30m deal

A Telford-based supplier of cable accessories, EV chargers, LED lighting and portable power products has acquired a Rotherham-based counterpart in a £30 million deal.

Luceco acquired CMD’s parent company, Baltic Topco, from Rubicon Partners and management for cash and debt-free.

Founded in 1984, CMD specializes in cabling accessories for commercial spaces, offering power distribution solutions and ergonomic products such as the Miro monitor support arm.

CMD’s senior management will remain in place and continue operations from its Rotherham headquarters.

CMD reported revenues of £23.1 million and EBITDA of £4 million for 2023. Luceco expects the acquisition to grow earnings in its first year.

The £30m deal was financed through Luceco’s credit facility and has a post-acquisition debt/EBITDA ratio of 1.7x as of August 2024.

John Hornby, Chief Executive of Luceco, said: “Luceco has a well-established position as a leading supplier of cable accessories to the residential market in the UK, so CMD, with its leading position in the commercial cable accessories market, is a very natural fit. The group’s product development includes manufacturing and sourcing expertise will enable us to accelerate product line innovation and improve CMD margins.

“We also see the opportunity to offer Luceco’s professional lighting range to CMD’s customer base of specifiers and contractors. “This acquisition is aligned with our merger and acquisition strategy and follows the successful acquisition of D-Line earlier this year.”

CMD Managing Director Jon Holding said: “CMD has been successful for many years thanks to its hard-earned reputation for consistently providing excellent customer service. The management team and I are excited for the next chapter and look forward to growing the business as we leave Luceco behind.”