SANGAMO ACQUIRED BY MIDLANDS-BASED SCOLMORE GROUP

Intrinsic Equity’s investee company - Sangamo - has been sold to Tamworth-based lighting, wiring accessories, and security products supplier, Scolmore Group, in a multi-million-pound undisclosed deal. 

Established in 1921 and based in Glasgow, Sangamo is an esteemed supplier of energy-saving, control and monitoring products for domestic and commercial applications. The business has a worldwide reputation for the manufacture of ultra-reliable energy saving time switches and other control products and is one of the UK’s leading energy saving manufacturers.

In 2002, Intrinsic worked alongside the management team to orchestrate the acquisition of Sangamo from Actaris Plc. Funding was secured from Bank of Scotland and Intrinsic invested alongside management, at which point Chris Gregory was appointed to the board of directors. Chris has been an active part of the company up until the recent sale to Scolmore Group.

Chris Gregory commented on the sale: “Intrinsic has been heavily involved in the strategic development of Sangamo in recent years, culminating in the successful sale to Scolmore Group, which will provide a sound base for the future development of the Sangamo brand and business.”

The exit represents a return in excess of 10x our original investment.