Monday, June 6, 2016

News: Home Décor continues growth through acquisitions

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Rotherham-based Home Décor, one of the leading suppliers of sliding door and interior solutions in Europe, has acquired Surrey-headquartered Optiplan Kitchens and Wiltshire-based Manor Cabinet Company.

Home Décor Innovations, whose parent company is part of the Cerberus investment group, has operating companies in the UK and Italy and manufacture over one million doors per year, supplying hardware to manufacture a further one million doors to strategic partners throughout the rest of Europe, The Middle East and Africa.

The acquisition, for an undisclosed sum, will see a £50m turnover business created with more than 350 staff.

The manufacturer made the move from Drakehouse in Sheffield to JF Finnegan's Woodhouse Link development on the site of the former Laycast Foundry at Fence, just over the Rotherham border, in 2013.

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Integrated into a new group, the business will be headed-up by Home Décor's existing chief executive Max Crosby-Browne. The growing firm bought Portico (Midlands) Ltd in 2014.

Paul Limbert, an Optiplan executive, will take the chief operating officer title for the company, whilst commercial director Mark Gledhill will become the sales and marketing director of the new kitchen business. Neil Martin joins the business as sales director for the expanded group.

Max Crosby-Browne, CEO at Home Décor, said: "This acquisition is a hugely exciting move for Home Decor and an important strategic step in achieving our growth plans. We will now have two distinct business units which together can offer customers a more integrated offering. The three businesses are a great fit in terms of culture, product offering and market sectors.

"Our focus is now on working in partnership with Optiplan and Manor's existing management teams to ensure a smooth integration over the coming weeks and months."

The acquisition was funded by investment from Home Decor's majority shareholder, Cerberus Capital Management, alongside a new funding package from HSBC. Home Decor's Head of acquisitions, Nick Clarke, with banking support from Chris Alsop, relationship director at HSBC Corporate Banking. Financial due diligence was undertaken by a team from BDO, led by Bob McDermott.

Home Décor website

Images: JF Finnegan

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