Primary Capital buys Pacific Direct

Primary Capital, a UK mid-market private equity firm, has acquired Pacific Direct, a branded toiletries business, for £20m (US$40m).

Senior debt and banking facilities for the transaction were provided by HSBC.

Bedford-based Pacific Direct manufactures and supplies branded toiletries and accessories to the luxury hotel and cruise line market. Its hotel customers include The Lanesborough, Sandy Lane, Waldorf Astoria and global groups such as InterContinental Hotels & Resorts, Rocco Forte and Sofitel.

The business also has manufacturing facilities in the Czech Republic and China, and has forecast turnover for 2008 of £24m.

Primary Capital’s other investments include Yo Sushi, Coffee Nation and Thompson & Morgan.