Corporate Finance

A seamless service to support acquisition

Multi-disciplinary team helps to secure target business


Kartell UK Limited (Kartell), one of the largest and fastest-growing suppliers of bathroom products and radiators to the independent merchant and showroom sector in the UK, had approached shower tray manufacturer JT Holdings (UK) Limited (JT) to negotiate the potential acquisition of JT.

Kartell were referred to FRP by JT’s advisers to support them with acquisition negotiations and Kartell also asked for support in arranging funding for the deal. Headquartered in Leeds, JT is one of the largest shower tray manufacturers in the UK; it employs more than 125 people and turns over more than £14 million.

Founded in 2008, Kartell is the largest supplier of radiators and bathroom products to the independent and merchant showroom sector. It turns over in excess of £60 million and employs more than 200 people.


Kartell appointed FRP to advise them on the acquisition of JT, on raising finance without giving away equity and funding the ongoing working capital needs of the enlarged group. In parallel with the acquisition negotiations, FRP ran a full funding process, taking the deal opportunity to a range of potential funders to find the best funder and terms for Kartell.

Our Corporate Finance team supported the client throughout negotiations with the target business, while working closely with our Debt Advisory team to advise on raising an asset-based lending package.


Kartell acquired JT from its management team and Maven Capital Partners UK LLP in a multi-million pound deal, with funding provided by Shawbrook Bank.

“We were delighted with FRP’s support on the acquisition of Just Trays and the parallel refinancing of our business. We asked FRP to help us deliver this ambitious project without giving away equity and they delivered exactly what they promised. The team delivered a seamless service, with the Corporate Finance and Debt Advisory teams providing exceptional advice throughout the process and showing true determination to deliver the deal for us. We look forward to working with them again in the future as we execute our growth plans.” Alex Norford, CEO of Kartell UK Limited.

Our Corporate Finance team supported the client throughout negotiations with the target business Harry Walker Corporate Finance

Related team

Adrian Gare

Adrian Gare

  • Consultant
  • Corporate Finance
  • Manchester