We are pleased to announce that mid-market private equity firm LDC has significantly invested in the Rhino Products group, to support our international growth strategy.
The partnership with LDC will support the Rhino management team to deliver our growth strategy through buy-and-build and further international expansion. LDC has committed to support us with additional funding to further enhance our market share in the UK and internationally. We have a strong track record of growth, having increased revenues by 60 per cent in the last three years.
LDC is backing our management team led by our CEO and Co-Founder Steve Egerton. Rhino was founded in 1997 by Clive Boult, who subsequently teamed up with Steve in 2003. Since then Steve has led Rhino to become the leading business in our sector, establishing our footprint in Europe in 2013, and successfully integrating the acquisition of AVS Steps in 2017. At the start of this year, we moved to a new state-of-the-art facility in Ellesmere Port in order to expand capacity for innovation and product development.
The investment was led by LDC’s John Clarke, Jacob Leone and Dale Alderson. John will join the board as a Non-Executive Director. As part of the deal, Gary Jacobson will also join the board as Non-Executive Chairman. Gary was formerly CEO of Middleton-headquartered Bifold Group, a manufacturer of instrument valves and pumps.
