Volvox Group

volvox-group

Volvox Group

Volvox Group

Sector: Business Goods, Industrials

Status: Realised

Fund: I

Deal type: Secondary management buyout

Investment date: November 2011

Realisation date: June 2015

Leeds-based Volvox Group designed and supplied lighting, electrical and consumable products under the Ring Automotive, BMAC and Van-Line brands. 

Its customers included vehicle manufacturers as well as the UK and European after-market, where it supplied major retailers and distributors.

Volvox Group

Volvox quote image

“Other firms tried to look at us as if we were a manufacturer but Elysian could see the knowledge base of the business that others could not grasp. The business was at a crossroads and needed to maintain its entrepreneurial ability whilst becoming more structured and Elysian’s partners’ experience helped us make this transition together.”

John Hall

Chief Executive, Volvox

Volvox Group

Volvox investment rationale

Investment rationale

Volvox was formed as a buyout of a group of non-core businesses in 2005. Its then private equity backer, LDC, sought to sell the company and the highly experienced management team were looking for a new partner to help it reach its next level of growth.

Volvox had demonstrated:

  • Resilience through challenging economic times, helped by a high level of non-discretionary products (particularly auto bulbs).
  • A track record of new product development.
  • Clear growth opportunities in each of the individual business lines.

Creating value

In June 2015, we, and the management, sold the group to Rubicon Partners, an investment partnership focused on industrial businesses in Europe and North America.

Under our ownership, Volvox had grown within the UK and internationally, continuing its market-leading product innovation.

In those four years, Volvox:

  • Sold Arctic Products, a subsidiary that supplied plumbing consumables, leaving the group focussed on the automotive and transport markets.
  • Reorganised the Ring business into three customer segment facing business units.
  • Improved its cash generation to pay down all senior debt ahead of schedule.
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