Mon, 23/06/2014 - 06:09
Maven Capital Partners has completed a multi-million pound investment backing the management team of Yorkshire based Just Trays (JT) to acquire the business from Gresham Private Equity.
JT was established in 1988 and has since grown to become a manufacturer of shower trays and related accessories, with all product design, development and production undertaken at its main facility in Leeds, West Yorkshire.
The business sells its range of products direct to trade partners in the construction and housing market and now accounts for around 28 per cent of the UK market.
The current management team previously led a MBO backed by Gresham and RBS in 2006.
The investment from Maven will help JT to implement its growth strategy, which is focussed on increasing sales through export markets as well as developing new routes to market and expanding its current product range.
Maven was advised by Peter Wood and Louise Blair at Pinsent Masons in Leeds, with financial due diligence and tax advice provided by Mazars. The management team was advised by Hamish Morrison and Matt Scott at BHP Corporate Finance, with legal advice from Richard Moran and Rachel Dean at Clarion.
Ryan Bevington, investment director at Maven, says: “Just Trays is a great UK manufacturing business which received financial backing before the recession, but saw its core market decline from 2008 as the recession impacted the housing and construction markets. It is a credit to the management team that the business has remained profitable and cash generative throughout this period and we believe it is now well placed to capitalise on its position as the UK’s leading shower tray brand. The management team led by Paul Crossley is excited about the future and we look forward to helping them achieve their goals.”
Paul Crossley, managing director at Just Trays, says: “The timing was right for everyone concerned for JT to find a financial partner to back us on the next stage of our growth strategy, as we look at new routes to market, overseas expansion and bolt-on acquisitions. We are delighted to have found a financial partner in Maven who understand our ambitions and are supportive of UK manufacturing businesses. The Maven team is local and it was important that we find a partner both accessible and with experience of helping growth businesses.”
Tue 25/04/2017 - 13:00
Tue 25/04/2017 - 08:24
Thu 13/04/2017 - 09:57
Wed 12/04/2017 - 07:10
Thu 27/04/2017 - 12:32
Wed 26/04/2017 - 12:42
Mon 24/04/2017 - 09:57
Fri 21/04/2017 - 10:10
Fri, 28/Apr/2017 - 14:04
Fri, 28/Apr/2017 - 14:02
Fri, 28/Apr/2017 - 09:54
Fri, 28/Apr/2017 - 09:42
Fri, 28/Apr/2017 - 09:04
Fri, 28/Apr/2017 - 09:01