Widnes-based Aroma and Fine Chemicals is a manufacturer of key aroma ingredients for household cleaning products. CBPE backed the management team led by Steven Pipe in a buyout from its former US parent, IFF Inc in December 2002.

We and management realised our investments when the group was sold to Octel, a US supplier of fuel additives, in August 2004 for £21m. CBPE achieved a return of nearly 4 times its original capital investment.