Fulton Capital and Midwest Mezzanine Funds have sold RP Lighting + Fans to Ferguson Enterprises

Royal Pacific Limited (RP Lighting + Fans), a portfolio company of Fulton Capital and Midwest Mezzanine Funds, has been sold to Ferguson Enterprises, LLC, the US operating subsidiary of Ferguson plc (LSE:FERG).

Founded in 1990 and headquartered in Albuquerque, New Mexico, RP Lighting + Fans is a leading wholesale specialty distributor of ceiling fans and lighting fixtures to the multi-family housing market, as well as to the adjacent commercial and residential markets. RP Lighting + Fans serves an entrenched base of specialty electrical distributors, general building products distributors and national and regional distributors, offering a wide array of ceiling fans, recessed, decorative and other lighting fixtures and wiring devices.

With over 1,600 locations and a market capitalization in excess of US$34 billion, Ferguson is a leading distributor of residential and commercial plumbing, HVAC/R, industrial and waterworks products. Ferguson Enterprises is the US operating subsidiary of Ferguson plc (LSE:FERG). This acquisition enhances Ferguson’s proposition to multi-family specialty electrical distributors and expands its lighting and fan offering.

Fulton Capital LLC is a private equity firm specializing in buyouts, platform acquisitions, middle market, and mature investments in small and mid-sized companies. Midwest Mezzanine Funds specializes in mezzanine financing, lower middle market, buyouts, acquisition finance, expansion capital, change of control, management buyouts, recapitalizations, and growth capital transactions in middle market and mature companies. It operates as an SBIC.

One of Oaklins’ teams in the USA served as the exclusive financial advisor to Royal Pacific Limited in this transaction.