Sun European Partners, the private equity firm, has bought a UK company that supplies flowers to supermarkets for around £100 million, as it continues to shift from turnaround investing to more conventional mid-market deals.

The firm, which is best known as an investor that buys up struggling companies, said on October 14 that it had bought Finlays Horticulture in a corporate spin-out from James Finlay Limited, subject to regulatory approvals.