Close Brothers Private Equity, the private equity subsidiary of Close Brothers, has backed the management buy-out of Gradus, the floor coverings manufacturer, reaffirming its commitment to investing in specialist manufacturers in the UK mid-market sector.

Close Brothers Private Equity invested £11m (€17.8m) of equity in the £30m deal, which includes Gradus's contract floor coverings and accessories business, Decor Fabrications, a floor lighting products firm, and three non-trading companies.