Specialist Liverpool manufacturer Centriforce says it has a ‘strong order book’ as it reports £20.6m in sales one year after a private equity takeover. Tony McDonough reports
Liverpool manufacturer Centriforce says it has a “strong order book” as it reports its first set of financial results since a private equity takeover one year ago.
In October 2024 LBN revealed that Centriforce, a manufacturer of thermoplastic damage prevention products made from recycled plastic, had been sold to London-based investment firm Rubicon Partners for an undisclosed sum.
This deal also offered a “strong exit” for Liverpool SME funding specialist River Capital which backed the original MBO. River Capital owned more than 25% of the equity in the business and received eight times its investment.
Now Centriforce, which is based in the city’s northern docklands, has posted its first set of annual accounts since the takeover on Companies House. They reveal revenues of £20.6m and pre-tax profits totalling £1.8m.
Both figures were lower than the previous year (£23.4m and £3.7m respectively). However, the business has changed its accounting period and the latest accounts, up to December 31, 2024, cover just a nine-month period.
Founded in 1976, Centriforce supplies its products to the utility, agricultural, building, and landscaping sectors. Its recycled products have become more popular as customers look to enhance their environmental credentials.
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Writing in the annual report, finance director David Griffiths said: “While there are still uncertainties throughout the global economy, the directors remain optimistic that the long-term objectives of the company can be met
“The benefits of recent investment in products and manufacturing processes are being realised. Order intake during the year was in line with expectations and the company has a strong order book to take into the new financial year.
“The company has made several key appointments in its commercial departments and expects these will help the company to expand into new markets. This gives the directors every confidence the company can achieve its long-term objectives.”