UK DIY News
Plumbworld Completes Management Buy-Out From Grafton Group
Online Home Retail Limited, which trades as www.plumbworld.co.uk, has completed a management buy-out of its business from former owner Grafton Group.
The Evesham-based company has been selling bathroom products at affordable prices to the trade and public since 1999 and was acquired by Grafton in 2006. In its latest trading update, the company revealed annual sales of more than £26m.
James Hickman originally founded the business and lead the team to buy it back from Grafton Group.
James Hickman, MD, said: “The E-commerce consumer market is very fast moving and intensely competitive. It requires quick decision making, calculated risk taking and a ruthless focus on eliminating avoidable costs. We believe being independent will offer us greater agility and enable us to focus 100% of our efforts on delivering growth and improving profitability”.
Details of the transaction were not revealed.
Source : Insight DIY Team
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