RG Industries, the investment vehicle created by Rubicon Partners and Grovepoint Capital LLP, are delighted to announce today their third acquisition, Goodridge Ltd., a world leading manufacturer of high performance fluid transfer and hydraulic systems.
Goodridge Ltd., with a turnover of c. £35M, supplies hoses, fittings, assemblies and ancillary products for use in the automotive OEM, retail and motor sport markets.
Based in Exeter, Goodridge operates globally with manufacturing and distribution operations in the UK, USA, Mexico and Europe, and employs over 300 people worldwide.
Rubicon plans to utilise its extensive industrial expertise, strategic vision and hands-on operational approach to take Goodridge to the next level in its development. This will include RGI investing extensively in automotive quality production and product development.
Bill Ray, Group Managing Director at Goodridge, said: “The shareholders of Goodridge are delighted with this transaction. It fulfils the wishes of the company’s late founder, Stuart Goodridge, and we have every confidence that RG Industries will build on and accelerate the company’s success. We would like to thank all our employees, customers and suppliers for their tremendous support over many years.”
Andrew Hodgson, KPMG Corporate Finance partner and lead advisor to Goodridge noted that: “Goodridge is a market leading business supplying its world renowned products across the globe. Under RG Industries’ ownership the business should be well placed to take advantage of future growth opportunities and develop even stronger relationships with its enviably prestigious customer base.”