Irwin Mitchell’s Corporate Team Advises Horticultural Firm On Landmark Deal
Law firm Irwin Mitchell has advised leading horticultural solutions and products specialist, Fargro Limited, on the successful completion of a management buy-out (MBO).
The deal, which has been supported by private equity partner, Ashridge Capital, will enable Fargro to adopt a more agile approach to its growth strategy.
This new structure will allow the West Sussex-based business to invest in R&D, new product development, and business growth, more quickly and with more flexibility than the previous structure could support.
Despite the closure of garden centres in 2020 due to Covid-19, Fargro has enjoyed a strong operating year, capitalising on increased consumer demand as the UK population turned to its gardens and window-boxes to improve mental wellbeing during recent lockdown.
Faye Bargery, Corporate partner at Irwin Mitchell, along with Kate Sun and Dan Webster advised Fargro’s management team on the deal.
Expert Opinion“Fargro has faced some exceptionally difficult trading conditions over the last year but its flexibility and adaptability has protected it and crucially, enabled it to flourish. The business has already proved that it has a solid platform in a very competitive market and I’m confident that following the completion of this MBO, it will be able to take its growth to an even higher level.” Faye Bargery - Partner
Commenting on the support that Fargro has received from Irwin Mitchell, Richard Hopkins, Managing Director at Fargro Limited, said:
“Faye Bargery and her brilliant team have proved themselves beyond question. This was a complex process and we greatly benefitted from their experience and advice.
“With so many moving parts, clear communication and willing collaboration with all the stakeholders has been vital throughout. Irwin Mitchell’s proactive approach helped steer this project to success.”
He added: “Fargro is a fabulous, well-respected brand, built over a period of 75 years. The combination of this investment, our vision, and the commitment of our passionate team ensures that we are now more strongly positioned than ever for a long and healthy future.
“We are in an exciting place, working in a technologically advanced, environmentally sustainable, and highly innovative sector. The business is perfectly placed to meet the increasing demand for our products as the UK continues to work through the impact of the pandemic, and as growers maximise the post-Brexit demand for home-grown food and flowering plants.
“Thanks to the support from both Ashridge Capital and Shawbrook Bank, we can now focus fully on preparing for growth and writing the next chapter of the Fargro story under our own management team.”
Fargro was also advised by FRP Advisory (Corporate and Debt Advisory).