Rennicks Group Limited has been acquired by the management team in an MBO backed by Renatus Capital Partners
Fitzwilton Limited has sold Rennicks Group Limited to its management team in an MBO backed by Renatus Capital Partners. Financial details have not been disclosed.
Rennicks is a leading Irish converter and value-added distributor of retro-reflective materials specializing in a wide array of solutions for the car license plate, road signage and vehicle conspicuity markets. The company is divided into two main businesses: car license plate division, a leading distributor of retro-reflective sheeting products to the UK car license plate market, where it has been the most recognized brand for over a decade with approximately 70% of market share; and Rennicks UK division, a value-added distributor based in the North West of England which provides the most comprehensive range of retro-reflective sheeting products and mobile variable message signs (MVMS) to UK road infrastructure contractors, highways, local authorities and equipment rental providers.
Renatus Capital Partners was founded by Mark Flood and Brendan Traynor to provide investment capital to dynamic and growing Irish mid-market businesses. The firm focuses on investing in medium-sized SMEs. Renatus' minimum investment is US$1.2 million in businesses worth more than US$6 million. Renatus generally writes an equity check alongside senior debt for management buy-outs, management buy-ins or businesses buying other businesses.
Oaklins' team in Ireland acted as lead advisor to Fitzwilton Limited in relation to the sale process, due diligence, the approach and negotiations with potential acquirors.
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