CBPE Capital (CBPE) has acquired a majority ownership position in IDEAL Networks, a provider of portable handsets for data cable and network testing, validation and certification.

CBPE is acquiring the business from its former parent, IDEAL Industries Inc and will be investing alongside the incumbent management team which includes chief executive Paul Walsh, chief finance officer Scott Paterson, development director Peter Kent, operations director Russell Stratton and marketing director Tim Widdershoven.

“We are delighted to be working with CBPE and look forward to establishing IDEAL Networks as a successful, independent market leader,” says Paul.

“IDEAL Industries has been a supportive owner and has enabled us to reach this stage of our development. With CBPE, we are confident that we have found a partner that will provide valuable input as we pursue our exciting growth plans.”

Terms of the transaction between both companies have not yet been disclosed.