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Montagu Private Equity sells its interest in Strix Group Lt

London|22 April 2005

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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