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Shower Tray Firm To Power Ahead Through New Owners
Shawbrook Bank Provides Debt Package With Support From Irwin Mitchell
Leeds-based Just Trays has been bought by Kartell UK in a deal which is expected to see the 30 year old Yorkshire business enhance its global offering and drive its expansion of the brand both in the UK and overseas.
Just Trays is one of the largest shower tray manufacturers in the UK, employing more than 125 people and turning over more than £14m. It was founded in 1978 and manufactures about 5,000 units per week.
Founded in 2008, Kartell is a supplier of radiators and designer towel warmers to the independent and merchant showroom sector. It turns over in excess of £60m and employs over 200 people across two principle sites in Bedford and Wigan.
To support Kartell’s acquisition, Shawbrook Bank's Midlands team provided a full suite of debt including invoice finance, stock finance and a term loan.
Shawbrook was advised by Jon Bew, Banking & Finance partner at law firm Irwin Mitchell.
Alex Norford, founder and managing director of Kartell, said: "I am excited to add JT to the Kartell family and look forward to working with the talented team at JT to drive the brand and sales growth to the next level.
"The acquisition of JT will enable us to create a strategic alliance to offer additional value to all customers and stakeholders across both brands. An innovative approach to manufacturing will enable Kartell to help to continue growing the Export business that has been so successful."
John Schofield, sales and marketing director at JT, said: "We passionately believe that this new chapter in our history will support us in a strategic growth drive. It remains business as usual and we'll continue to build on our position as the UK's number one for quality and innovative products."
Kartell was also advised by FRP Corporate Finance and FRP Debt Advisory. The shareholders of Just Trays were advised by Grant Thornton.