Rigby Private Equity (RPE), the private equity arm of Rigby Group Investments, has bought a majority stake in distributor Zycko, which when added to the stake it has in Wick Hill, creates a $300m European distribution business. Both businesses will now expand their coverage and selectively add vendors while maintaining their brands.
At this size, the deal is not subject to competition investigation; Zycko was subject to a management buy-out four years' ago, and the management will continue in place. Rigby Private Equity is continuing to look for further acquisitions as it builds its distribution business, and the growth of both Wick Hill and Zycko will be organic and by acquisition, says Paul Eccleston, head of Rigby Private Equity, who also commented: “We are extremely pleased that Zycko is joining Rigby Private Equity. The company has a great track record and a reputation for helping vendors successfully bring new technologies to market and grow their business. Their ethos of innovation and excellence, alongside a strong commitment to specialist services and support, is entirely aligned with that of Wick Hill.
The two cover the UK and Germany, and Zycko works directly in ten other countries. The intention is to continue growth and trade on having a strong skills base, so the next year will see increased training and building up the knowledge base, says Ian Kilpatrick, chairman of Wick Hill.