Rescue and sale of Lakes Bathrooms secures future for leading UK manufacturer

FRP supports Hiatt Hardware Group on acquisition, safeguarding jobs and unlocking long-term growth.

Background

Lakes Bathrooms was a well-established UK manufacturer and distributor of premium showering products, recognised for its reputation in quality, design and innovation.

Despite its strong brand position and loyal customer base, the business faced financial challenges requiring a formal insolvency process. Joint administrators were appointed to explore options to preserve value and secure the best outcome for stakeholders.

A competitive sale process attracted multiple interested parties, reflecting the strength of the Lakes brand and its position within the UK home improvement and construction supplies market.

Action

FRP Advisory acted as buy-side advisors, supporting Hiatt Hardware Group through the acquisition process at pace.

• Worked closely with the purchaser to assess the commercial rationale of the transaction
• Navigated a complex and competitive sale process alongside the proposed administrators and other advisors
• Supported negotiations to ensure a viable and deliverable pre-pack transaction structure
• Coordinated with legal and wider advisory teams to enable completion within a tight timeframe

The transaction resulted in the successful acquisition of Lakes Bathrooms’ business and trading assets by Hiatt Hardware Group, a well-established provider of premium hardware and ironmongery products.

Outcome

The transaction delivered a positive outcome for stakeholders and secured the future of a respected UK brand.

• More than 120 jobs across the Lakes business were safeguarded
• The brand will benefit from Hiatt Hardware Group’s established customer relationships and distribution network
• The acquisition expands the Group’s offering into bathrooms, plumbing and heating, supporting its long-term growth strategy
• Opportunities have been created to enhance operational efficiencies and strengthen supply chain control

This deal demonstrates FRP’s ability to support complex, fast-paced transactions and deliver commercially focused outcomes that preserve value and protect jobs.