Inspirit completes the sale of Spaldings to Invicta Holdings

Inspirit Capital has announced today that it has exited its investment in Spaldings to Invicta Holdings Ltd, a JSE-listed investment group specialising in the wholesale and distribution of industrial consumables.

Based in Lincolnshire, Spaldings is UK and Ireland’s largest distributor of agricultural parts and groundcare products. Inspirit invested in Spaldings in 2022 following its carve-out from Japanese-listed Marubeni Corporation. In that time, Spaldings has quadrupled earnings and is left in a strong position to continue its upward trajectory in performance.

Albert Farrant, founding Partner at Inspirit Capital, commented: “It has been a pleasure to partner with the outstanding team at Spaldings over the last few years. We are proud of what has been accomplished and look forward to following Spaldings journey as it continues to thrive under Invicta’s ownership”.

Paul Bray, Managing Director of Spaldings, added: “Our partnership with Inspirit has been transformational and establishes an excellent platform for future growth. As we welcome our new shareholders at Invicta, we remain focused on delivering a market-leading service for our customers”.

The transaction delivers high single-digit money on money returns and marks another strong exit for Inspirit Fund I.

Inspirit was advised on the transaction by Oaklins S&W (Corporate Finance), Mills & Reeve (Legal) and Saffery (Financial and Tax).