Established in 1997, Orchard Electronic designs and manufactures printed circuit boards (PCBs) and miniature air conditioning pumps and has been a key supplier to Aspen Pumps for about 10 years.
Orchard employs 35 staff and operates from an 8,000 square foot factory in East Sussex. David Gowland will continue as managing director and there will be no other changes to the management structure.
Aspen Pumps is a designer and distributor of condensate pumps, which remove water and condensation from air conditioning systems. It was acquired by Inflexion through an MBO in March 2007 and has increased the number of its employees by 10% in the six months since acquisition.
Simon Turner, managing partner at Inflexion Private Equity, said: “Orchard Electronic is a natural fit for Aspen Pumps, and this transaction creates genuine synergies. The combined companies will be able to provide their customers with a wider range of future products and to accelerate the ongoing innovation of new pumps.”
Gareth Healy formerly head of Close Brothers Corporate Finance’s IPO advisory practice, where he worked on the AA and Saga merger, is joining Inflexion, as is Nicola Boyd, who joins as investment executive to strengthen the existing investment team.
Boyd joins Inflexion from NBGI Private Equity, where she was an analyst within the investment team focused on the assessment of potential investments and market analysis as well as sourcing and monitoring.
Her experience at NBGI includes the investments in Ochre House and Change Recruitment Group. Previously, she was an associate consultant at Burlington Consultants helping to prepare commercial due diligence for a range of private equity houses.
According to Inflexion, Boyd will be working within the investment team at the London office evaluating and analysing prospective transactions, as well as contributing to the origination of new opportunities throughout the UK. These appointments follow those of Anthony Bower and Alistair Hamilton to Inflexion’s London office in the past year.