Elysian perspective
Elysian’s Leeds office used its contacts within the local corporate finance community to engage with Volvox’s advisors, who were also based in Leeds, and gained exclusivity after a second round of bidding.
Volvox represented an attractive acquisition for Elysian due to a mix of factors including its resilience through challenging economic times, helped by a high level of non-discretionary products (particularly auto bulbs), an experienced management team, a track record of new product development and clear growth opportunities in each of the individual businesses.Elysian’s partners also had relevant experience in industries with similar supply chain challenges as well as in the automotive sector itself.
James Cunningham, Operating Partner of Elysian Capital and the new Chairman of Volvox Group, said: “During the recent economic downturn, Volvox has shown its resilience and the group’s focus on product innovation, value for money and customer service has enabled it to establish Ring as the premier supplier of lighting and auto-electricals to the UK market. We are delighted to support the management team as they continue to grow all parts of the business and develop further into Europe”.
