£393m London investment firm acquires £24m Midlands based electrical wholesaler

London based investment firm RDCP Group has acquired Midlands based Worcester Electrical Distributors, an independent electrical wholesaler, for an undisclosed sum.

Headquartered in Worcester, the firm was established in 1987 by Neville Butler and Bob Rushton and today employs 80 staff, with an annual turnover of £24m and an average annual revenue growth rate of 20 per cent.

Worcester Electrical operates from six branches offering over 18,000 stocked items and is a stockist for automation products from ABB, Telemecanique and Weidmuller. It also stocks lighting products from Ansell Lighting, and accessories and switchgear from “all the leading brands”.

The firm’s branches are all located down the M5 corridor, servicing the Birmingham area, through Worcestershire, Warwickshire, Gloucestershire, Herefordshire, and into the South Wales valleys.

The existing management team will be led by newly appointed managing director Paul Clunn, and operations director Michelle Troth, who will work closely with RDCP founders, Sameer Rizvi and Iryna Dubylovska, on Worcester Electrical’s future growth strategy.

This latest deal forms part of RDCP Group’s buy-and-build strategy and vision to build the UK’s largest private company with a dominant presence in a variety of industries. RDCP now controls $450m (approx. £393m) of investments across multiple sectors and employs 1,900 staff members in the UK.

Sameer Rizvi, founder & CEO of RDCP Group, commented: “We were impressed by the strong reputation that Worcester Electrical Distributor holds, the strength of the existing management team and its range of products and services.

“Incoming managing director Paul Clunn has excellent credentials, with over 25 years’ experience working in senior leadership roles for blue chip companies in the electrical products sector. His expertise will be invaluable as we look to accelerate the firm’s future growth and capitalise on new opportunities to be an even stronger partner for its customers.”

Paul Clunn, managing director of Worcester Electrical added: “We look forward to this next chapter, working with Sameer and Iryna to increase Worcester Electrical’s value over time.

“Together we form a strong team to take the business to the next stage in its journey and continue to deliver and build on the extensive and quality range of products and services available to our customers.”

By Matthew Neville – Correspondent, Bdaily

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