Rutland Partners, the UK private equity partnership, announces that it has completed the acquisition of the CeDo group of companies (“CeDo”) from DELTON AG, Bad Homburg/Germany (“Delton”) for £52.2 million.
The transition was announced on 29 July 2009 and was a conditional on merger control clearances which have now been received.
Rutland Partners received the Buy-Out of the Year Award at the M&A Awards 2010 for its acquisition f the CeDo group of companies. This award recognised the most transformational buy-out during the past 12 months.
The judges also commended CeDo for being one of the few mid-market cross border deals of substance to be completed in 2009 requiring an innovative debt structure.
Newton, today announced that it has successfully completed a project with Rutland Partners’ CeDo Group, one of Europe’s leading manufacturers of household disposables, to increase performance without capital expenditure at their site in Katy Wroclawskie, Poland.
The project, which was one of several opportunities originally identified in the pre-acquisition operational due diligence, delivered significant increases in aluminium rewind efficiency equating to 0.8 million euro annualised profit improvement.