Close Brothers Growth Capital (CBGC) has exited its April 2002 investment in Delta Fluid Products Limited through an £8m refinancing that sees GE Commercial Finance take out the loan provided by CBGC, as well as acquiring CBGC’s equity in the business. CBGC bought Delta Fluid Products from Delta plc for £6.25m.
Delta Fluid Products is a UK, Merseyside-based manufacturer of safety critical values and fittings with an annual turnover of £12m. Brian Travis, formerly of Delta plc, leads the management team.
Garrett Curran of Close Brothers Growth Capital said: “We are delighted with our investment in Delta Fluid Products, which has produced significant returns for our investors after just 21 months.” Delta Fluid Products is CBGC’s second successful exit from its first fund.