NVM Private Equity exits Arleigh International with a 4.0x return .
3 August 2016
NVM Private Equity LLP (NVM) has exited from Arleigh International, a European supplier of static caravan accessories and spare parts to Nasdaq listed LKQ Corporation, a supplier of alternative and specialist parts to repair and accessorise cars and other vehicles. The sale represents NVM’s fourth profitable exit from its portfolio in the past six months with a 4 x money multiple and an Internal Rate of Return (IRR) of 24% for NVM.
Nuneaton based Arleigh International has supplied spare parts and accessories to the UK caravan holiday home market since the late 1960’s. It expanded into the narrow boat supplies market in 1997 through the acquisition of Marine Mart, a business founded by Alastair Thomas in early 1990s, when it was just a Portacabin by the canal selling narrow boat engines and gearboxes.
Since 2004, NVM has invested a total of £3.3 millionto support Arleigh International. The business has grown strongly both organically and by strategic acquisitions. In 2011 Arleigh acquired Nova Leisure, also a supplier of caravan and motorhome equipment. As a consequence, Arleigh became the principal UK distributor of the well-known Fiamma product range which has been one of the key drivers for growth.
On a macro-level, Arleigh has benefited from the rising popularity of UK ‘staycation’ holidays. In 2016, sales of new motorhomes returned to record levels with a 26% increase in sales during the first quarter of 2016.
Martin Green, Managing Partner of NVM: “It has been great to see Arleigh develop into the business it is today. Since our original investment, Arleigh has gone from strength to strength expanding across the UK and extending its product portfolio. It has been a pleasure to work with the Arleigh team over the last 11 years and we are confident that the business can continue its success as part of LKQ. We wish the management and staff all the best for the future.”
Alastair Thomas, Managing Director of Arleigh International:“NVM’s involvement in Arleigh was always a positive and respectful one. From day one they saw the potential and enabled the business to grow exponentially. It has been a very rewarding and uplifting experience and now sets the stage for the next exciting chapter to be written under the ownership of LKQ.”
Principals and key advisors to the transaction
- Legal advice by James Hunter at Mills and Reeve
- Financial advice by Roger Buckley and Adam Whistance of BDO.
NOTES TO EDITORS
Download photos of: Alastair Thomas and Arleigh photos here – www.nvm.co.uk/PRphotos
NVM Private Equity LLP; (NVM) is independently owned with over 30 years’ experience of investing in unquoted UK businesses. NVM is a generalist investor, managing over £270 million of funds, and is differentiated by having executives living and working in regional business communities throughout the UK. NVM seeks investment opportunities in UK businesses which have the right mix of growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. Typically, NVM looks to invest between £2 million and £10 million in each transaction. www.nvm.co.uk
Arleigh International; (Arleigh) are specialist leisure wholesalers in the UK trading through three divisions supplying equipment and spares into the holiday home (Arleigh), motorhome (Nova Leisure) and inland waterways (Midland Chandlers) markets. From their purpose built 60,000 sq ft premises in Nuneaton, Warwickshire, they supply over 13,000 SKUs on a next day basis to over 4,000 trade accounts. www.arleigh.co.uk
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