We value your privacy
If you'd prefer that cookies weren't placed on your computer when you visit our site, you can use the controls below to allow or disallow different types of cookie. Some cookies are essential for the website to work, so they can't be disallowed.
These cookies give us anonymised information on how people use our website. We use these cookies to help us tailor our site to meet the needs of our visitors, for example by making sure our most popular pages are easy to find.
These cookies serve a number of purposes, such as allowing you to share our content with your friends and social networks. We also use these cookies to provide targeted advertising, so you may see relevant adverts based on the pages you look at on our website.
Online Home Retail Limited, an online bathroom products retailer based in Evesham, has completed a successful management buyout (MBO).
The MBO was supported by private bank Arbuthnot Latham and Panoramic Growth Equity. The Arbuthnot Latham team, led by Andrew Rutherford, was advised by Jon Bew from the Banking & Finance team at law firm Irwin Mitchell.
Online Home Retail Limited, trading as www.plumbworld.co.uk, offers quality bathroom products at affordable prices to the trade and public. James Hickman, the original founder of the business, led a team that bought back the company from Grafton Group plc.
Since its founding in 1999, the business has served over 1.5m customers, generating over £26m in annual revenue according to its latest published financial statements.
James Hickman, Managing Director, 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.”
Jeremy Cole and David Middleton of Cole Associates Corporate Finance acted as lead advisers to the MBO team on the acquisition and finance-raising.