News Archive

Harwood Private Equity acquires B&G Equipment Company Inc. (“B&G”)

31 July 2013

B&G is a leading manufacturer of specialist equipment for the control of insects and rodents used by professional pest control operators such as Terminix, Orkin and Rentokil. Its products include spraying equipment, baits and traps. B&G’s stainless sprayer equipment is recognised as the North American applicator of choice. The majority of its sales are in North America but it enjoys market share presence across the globe. The B&G team will be led by Non-Executive Chairman, and Harwood Operational Adviser, Carl Contadini, who has operating experience in pest controls.

Commenting on the acquisition, Geoffrey Gorman of Harwood Private Equity, who led the transaction and who will join the board of B&G, said:

We are very pleased with our acquisition of B&G and its platform for growth. The company has dominant North American market share and product line diversification and international growth potential in a resilient sector. The opportunity is clearly there to expand sales organically and through acquisition. We look forward to maximising the company’s potential.”

Harwood Private Equity exits Bionostics

23 July 2013

Harwood Private Equity achieved a full exit from its position in Bionostics through a sale of the company to a trade buyer on 23 July 2013, creating a return of 4.0x cash multiple and an IRR of 30%.

Bionostics is an industry-leading developer, manufacturer and distributor of liquid control solutions employed in medical diagnostic testing equipment. Harwood Private Equity acquired the business in a public-to-private transaction in 2008.