Inspirit Capital has sold Spaldings to Invicta Holdings
September 2025 — Inspirit Capital has successfully exited its investment in Spaldings Holding Limited through a sale to Invicta Holdings Ltd., a publicly listed company on the Johannesburg Stock Exchange (JSE).
Based in Lincolnshire, Spaldings is the largest distributor of agricultural parts and groundcare products in the UK and Ireland. Inspirit invested in the company in 2022, following its carveout from Japanese-listed Marubeni Corporation. Since then, Spaldings has quadrupled its earnings and is well-positioned to continue its strong growth trajectory.
Invicta is an investment group specializing in the wholesale and distribution of industrial consumables, spare parts and capital equipment across multiple regions and industries.
Inspirit is a UK-based investment firm backed by a select group of institutional investors. The firm focuses on investing in small and medium-sized businesses headquartered in the UK or Ireland that are being divested by large corporations. Inspirit has a strong track record of executing corporate carveouts and reinvigorating businesses in standalone, entrepreneurial environments.
Our role in the transaction
Oaklins S&W, based in the UK, acted as the exclusive sell-side advisor to Spaldings. The transaction further reinforces the team’s strong track record in the industrial and agricultural sectors, highlighting their deep sector expertise and ability to deliver successful outcomes for clients.
Talk to the deal team
Related deals
KPS Food Group has joined ForFarmers Polska, a joint venture controlled by ForFarmers N.V.
ForFarmers N.V. has strengthened its position in Poland’s growing poultry market through the establishment of a joint venture with KPS Food Group, a leading poultry producer with operations spanning farming, slaughtering and food processing. ForFarmers’ existing Polish joint venture, Tasomix, and KPS’s operations have been combined to form ForFarmers Polska, which has an enterprise value of approximately US$585 million. ForFarmers holds a controlling 50.5% stake and will fully consolidate the joint venture. The founders of KPS and Tasomix remain minority shareholders.
Learn moreComtax has been acquired by Ryan
Comtax, a São Paulo-based tax technology consultancy specializing in tax determination and digital tax compliance, had been acquired by Ryan, the world’s largest firm dedicated exclusively to business taxes. The transaction marks Ryan’s entry into the Brazilian market, adding a specialized team and an established base of large corporate clients in Brazil, one of the world’s most complex tax environments, at a time when the country’s consumption tax reform is set to reshape how companies calculate and report indirect taxes. For Comtax, the acquisition brings access to Ryan’s global platform, technology and client network across more than 80 countries, creating opportunities to scale its tax determination and compliance offering beyond its current footprint. Comtax’s founders will continue to lead the business.
Learn moreCibus has acquired Aweta from Standard Investment
Standard Investment has reached an agreement with Cibus Capital, advisor to the Cibus funds, on the sale of Aweta, a global leader in fruit and vegetable sorting, grading and packing equipment. Completion of the transaction is expected in the coming weeks. The transaction provides Aweta with a strong partner to support the company’s next growth phase. Under Cibus’ ownership, Aweta will pursue further international growth and accelerate investment in R&D, supporting the installed base and product innovation, including software and AI capabilities. Aweta’s leadership team will continue to lead the business.
Learn more