Sale of Kondor Limited
Delivering success for our clients through proactive and dynamic delivery
Malcolm Bartlett, the founder and majority shareholder, set up Kondor in 1994 and had overseen its development through to this transaction.
Deloitte provided a tailored team comprising a mix of sector experts and local advisors in order to market the company appropriately and bring its sale to a successful conclusion.
The situation
- Kondor is a leading specialist provider of mobile and other consumer electronics accessories
- Kondor has an extensive portfolio of mobile and other consumer electronics accessory products including its own brands, customers’ brands, and third-party products
- In the year to December 2013, Kondor generated revenues of c.£89m and EBITDA of c.£14m. It has a comprehensive distribution strategy for its customers and partners, making it ideally placed to capture extensive domestic and international market opportunities
- The founder was seeking to exit from the business he had developed over 20 years
The transaction
- Deloitte advised the majority shareholders on the sale of the business to HIG Capital and the Management Team
- The deal execution team took a proactive approach towards the transaction process, working very closely with the management team, and HIG Capital, to understand the business and maintain deal momentum through a complex process
- The management team acknowledged that Deloitte went “above and beyond” in their support throughout the process
The outcome
- A successful sale HIG capital was completed, with HIG’s investment allowing the management team to focus on their plans to further develop the business
- The transaction was also supported by Prudential Investment Company of America and The Royal Bank of Scotland plc.
