Telford's Luceco announces £30m acquisition
Telford lighting giant Luceco has completed the £30m acquisition of a Rotherham-based firm.
Luceco, supplier of wiring accessories, EV chargers, LED lighting, and portable power products, has acquired CMD Limited in a move that bosses say is a 'natural fit'.
CMD, founded in 1984, designs and manufactures a comprehensive range of wiring accessories for commercial premises, where it holds a leading position in the UK.
Products include under-floor and under-desk power distribution solutions, on-desk and in-desk sockets, and a range of ergonomic products including the award-winning Miro monitor support arm.
CMD has an experienced senior management team which will remain with the business, continuing to operate from its headquarters in Rotherham.
For the audited 12-month period to December 31, 2023 CMD reported revenue of £23.1m and earnings before interest, tax, depreciation and amortisation of £4.0m.
The Acquisition is expected to be earnings enhancing in its first full year of ownership.
John Hornby, chief executive officer of Luceco, said: “Luceco has a well-established position as a leading supplier of wiring accessories to the residential market in the UK so CMD, with its leading position in the commercial wiring accessories market, is a very natural fit.
"The Group’s expertise in product development, manufacturing and sourcing will enable us to accelerate range innovation and improve margins for CMD.
"We also see an opportunity to offer Luceco’s professional lighting range to CMD’s customer base of specifiers and contractors. The acquisition is in line with our M&A strategy and follows the successful acquisition of D-Line earlier in the year.”
