Alcuin & Indigo exit investment in Sorex Holdings via trade sale to BASF

Alcuin is pleased to report the acquisition of Sorex Holdings Ltd by BASF, the German chemical company, for an undisclosed sum. The investment was co-led by Alcuin and Indigo Capital in 2004, and the recent exit represents a most satisfactory outcome.

Sorex manufactures rodenticide and general insect control products, and was originally an investment led by Alcuin in 1996 in a buy-out from Shell, which was successfully realised in a recapitalization in 2001.

After retaining a close relationship with the management team, Alcuin and Indigo co-led a subsequent £9.5m investment in 2004 to part-fund Sorex’s acquisition of Whitmire Microgen from Johnson Diversey. This created a strong global market position for the enlarged Sorex business in the niche pest-control market.

>Alcuin and Indigo Capital had previously worked together on the successful investment in Menzies Hotels , which was led by the Alcuin team in 2000.