Barclays Private Equity, a pan-European mid-market private equity house, has acquired a majority stake in Gardman Holdings, a UK supplier of wild bird care and garden products, in a deal v
Barclays Private Equity, a pan-European mid-market private equity house, has acquired a majority stake in Gardman Holdings, a UK supplier of wild bird care and garden products, in a deal valued at GBP85m.
Based in Moulton, Lincolnshire, with rapidly-growing subsidiaries in America and Australia, Gardman was founded 15 years ago by current chairman and owner Paris Natar and employs nearly 300 staff. The firm supplies the majority of independent garden centres throughout the UK including Wyevale, as well as DIY stores such as B&Q, Focus, Homebase and Wickes.
‘We have known Gardman for a number of years and have been impressed with the way that it has developed,’ says Phil Griesbach, a director at Barclays Private Equity. ‘The company has demonstrated it has a robust business model based upon design innovation and providing its customers with good quality, affordable products. Its success is down to an excellent management team with whom we look forward to working.’
Natar adds: ‘I am delighted to have Barclays Private Equity on board as an equity partner. Their investment in the business will allow Gardman to continue both our organic growth and by acquisitions, as well as to move into new product areas and expand overseas.’
David Jones, a corporate finance associate partner with Deloitte in Nottingham and Nick Carr, an assistant director, led the team advising Gardman and introduced Barclays Private Equity to the transaction. Legal advice was provided to Gardman by Eversheds in Cambridge.
Says Jones: ‘Gardman is an outstanding business in its sector with a fabulous track record of growth. The management remain hugely ambitious, and the investment from Barclays Private Equity will give the company a major boost towards achieving its growth plans.’