Plumbworld Completes MBO From Grafton Group Plc Irwin Mitchell’s Banking Team Advises On Deal 08.01.2019 David Shirt, Press Officer | 0161 838 3094 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. Key contact Jon Bew Partner +44 (0)788 919 8073 Email Jon Press contact David Shirt Press Officer 0161 838 3094 Email David Tags Banking & Finance MBO Birmingham Related articles 20.03.2019Government Issues Recommendation for Leasehold Reform 15.03.2019Irwin Mitchell Recruits Hundreds Of Volunteers For Red Nose Day 2019 15.03.2019Irwin Mitchell Scoops Hat-trick At Birmingham Law Society Legal Awards 13.03.2019Sheffield City Region Launches Global Innovation Corridor At MIPIM 2019 08.03.2019Irwin Mitchell Launches Women in Law Timeline 05.03.2019Does A Rest Break At Work Have To Be Continuous?