Montagu Private Equity has today agreed to sell its interest in
Strix Group Ltd ("Strix") to ABN AMRO Capital, for an undisclosed
consideration.
Strix, founded in 1979, is the world's leading manufacturer of
kettle controls, the main means of switching a kettle on and off
when the water boils. Strix controls are used more than one billion
times a day, by approximately 20% of the world's population. The
product range includes kettle controls, cordless interfaces,
thermostats and water boiling elements and is supplied to all
recognised kettle brands including Bosch Siemens, Braun, Kenwood,
Morphy Richards, Philips, Rowenta, Russell Hobbs and
Tefal.
The Company's head office is located in Ronaldsway, Isle of Man.
It operates four manufacturing facilities located in Chester (UK),
Malew and Ramsey (Isle of Man) and Guangzhou (China). Much of the
assembly and some component manufacturing is carried out at the
Guangzhou facility, where Strix has operated for over eight years.
In addition, the Group maintains a European manufacturing and
assembly presence in order to service its customers and support new
product development.
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