Volvox hires PwC to discover sale alternatives
Private equity group Elysium Capital brings in PwC to check out a sale of the automobile elements manufacturer which could fetch £40m 
Photograph: Alamy
British automobile elements manufacturer Volvox Group has been place up for sale by its personal equity owners with a £40m price tag.
Elysian Capital has appointed advisers at PwC to investigate options for the business, which includes a complete sale.
The company, which makes automobile light bulbs, chargers and battery packs, is believed to be really worth close to £40m, sources indicated this weekend.
PwC was brought on board following a variety of unsolicited proposals from worldwide trade consumers.
Elysian purchased the Leeds-based mostly organization from the personal equity arm of Lloyds Banking Group, LDC, in 2011. LDC initially backed the £12m management acquire-out of Volvox in 2005 with a £5m investment which boosted its warehousing capability and was utilised to drive overseas revenue.
Volvox has three divisions: Ring, a 40-yr-previous motor vehicle lighting unit its garage workshop targeted company, Van-Line, and BMAC, its train headlight division. BMAC, which was started in 1927, is now the only supplier of train headlights in the Uk.
The company’s consumer base includes suppliers Andrew Webpage and UniPart Automotive, which collapsed into administration this week with 1,400 job losses.
Given that 2005 group income have risen by 60pc to £40m, whilst exports have grown from less than £2m to £8m. The firm expects yearly income of about £50m for the 12 months to September. It is anticipated that Volvox will be sold to an global purchaser as the company has been centered on increasing its overseas exports arm.
Elysian Capital was founded in 2008 and specialises in United kingdom reduced mid-market deals of between £10m and £100m.
Spokesmen for Elysian and PwC declined to comment.