Chaucer Foods
Transformation of food ingredients company into a highly profitable supplier to major international groups.
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DescriptionFreeze-dried fruit specialist
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HQHull, UK
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InvestedMarch 2011
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Add-on acquisitionCrunchies Food Company, USA
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SoldMarch, 2016
Chaucer Foods
In 2011, Andy Ducker and David Manning acquired a large minority stake in the Chaucer Food Group, a specialist global ingredient supplier to large food groups including Kellogg’s, Starbucks and Unilever.
Andy and David took active operational roles in transforming the company’s fortunes, including an expansion of its manufacturing facilities in the UK, France and China; opening a new operation in the US and significantly expanding the company’s product range and customer base.
Over the course of 5 years the Elaghmore team transformed the business, increasing its turnover by 50% to $150M dollars and profitability from $4M to $12M. It became the largest global provider of freeze dried fruit in the world.
In 2016, it’s success attracted the attention of Nagatanien, a Japanese food producer which acquired Chaucer for $130M.
TVS Group
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DescriptionSpecialist manufacturing group servicing the commercial and industrial vehicle industry
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HQCambridge, UK
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InvestedDecember 2016
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Original InvestmentSB Components
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Add-on acquisitionsPriden Engineering, McPhee Mixers
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StatusCurrent
TVS Group
Total Vehicle Solutions Group is a leading manufacturer of specialised products for the commercial and industrial vehicle industry. It was created by the combination of several Elaghmore portfolio companies, beginning with the initial acquisition of SB Components in 2016.
Cambridge-based SB was bought from its founder when Elaghmore backed its young, aspirational, management team. Since then, SB has achieved a 70% increase in sales, from £15m to £26m. Investment in a best-in-class fleet centre has supported this sales growth and positioned the company as a lynchpin supplier to blue-chip customers.
In April 2018, the group acquired Priden Engineering, a specialist in pneumatic vehicles, based in the same Cambridgeshire town of Wisbech. This investment expanded TVS’ market and customer base.
In May 2018, the group acquired McPhee Mixers, headquartered in Glasgow. McPhee was founded in 1971 and holds a significant share of the UK concrete mixer market. Elaghmore have championed plans for new support sites across the UK, facilitating increased routes to market for this business.
