Private equity firm LDC has sold Mini-Cam to engineering group Halma in a deal which values the business at up to £85 million.
Mini-Cam designs and builds intuitive and robust modular pipeline inspection systems which are used by public authorities and companies in the oil and gas, petrochemical, nuclear, security, construction and engineering sectors. They are also used in the water and wastewater industry.
The business is headquartered in Warrington and has more than 50 employees.
LDC backed the management buyout of Mini-Cam in July 2015, providing additional funding to accelerate the firm’s international growth strategy. Since then, the business has expanded its operations from one site to three, including establishing a new European R&D facility in Austria.
It has also developed and launched many new products and significantly increased its sales overseas, expanding into new markets such as Australia, Scandinavia and the US. International sales now account for more than 42% of turnover, up from 31% in 2015, and the business exports to customers in more than 40 countries.
Nigel Wilson, managing director at Mini-Cam, said: “The strategic support and financial backing we’ve received from LDC throughout our partnership has helped us grow the business, both at home and overseas. With the team’s help, we have been able to continually invest in our operations, increasing production and service levels to meet the rising demand for innovative, high-tech inspection systems.”
Chris Wright, investment director at LDC in Manchester, added: “Since we backed Mini-Cam just over two years ago, Nigel and his team have invested heavily in research and development and Mini-Cam is now one of the few UK-based pipeline inspection manufacturers that has successfully penetrated international markets. As part of the Halma group, the business will be able to build on these solid foundations and is strategically positioned to embark on the next phase of its international growth strategy.”