Batt Cables PLC acquired by Chiltern Capital LLP
We would like to announce that on 1st September 2023 Batt Cables PLC was acquired by Chiltern Capital LLP.
Chiltern Capital is a private equity investor and business builder investing in growing companies across the UK and Ireland. Chiltern was established in 2015 and has a portfolio of 15 companies. The company seeks to partner with ambitious management teams to drive growth through organic and “Buy and Build” strategies.
Batt very much values the relationships with its customers and suppliers and wishes to develop these further over the coming years. In the mean-time Batt’s operations will continue as usual and will be unaffected by the sale. The existing Senior Management Team will remain in place with the addition of a new Executive Chair, Jeremy Ling who will assume overall leadership responsibility for the company. Jeremy has extensive experience in leadership roles across distribution, retail and manufacturing companies and in corporate, privately-owned and private equity-backed businesses. Peter Holm will assume a part time advisory position to the company.
Regarding the sale, Peter Holm stated:
“From the age of 18, I have spent my entire career building Batt from a small UK focused distributor, into the £200+ million revenue international company it is today. I’m enormously grateful to all the people who have supported me on this journey over the years, from customers, suppliers and not least my fantastic staff and management team. Whilst there will be a touch of sadness, I know now is the right time to hand over the reins and I have no doubt that the business will thrive following Chiltern’s investment, and I will enjoy supporting them on that journey.”
Jeremy Ling said:
“Peter has created a very successful company and team over the last 47 years. The Company has a fantastic reputation with its customers and suppliers which is a testament to Peter, his management team and the staff across the world. We will continue to build on these relationships, invest in our people and identify new opportunities for growth in the UK and internationally. I am incredibly excited to get to work.”
Regarding the purchase, Joe Bennett, Investment Director at Chiltern Capital commented:
“We feel privileged to be taking ownership of a company with such a long history in the UK cable distribution market. With the pressing requirement for ESG-driven electrification to support countries’ net-zero targets, now is an exciting time to be investing in the sector. We will seek to protect Peter’s legacy, whilst also investing to take the Company through the next stage of its growth journey.”