FRP supports £1.5m GMCA boost for Kartell
Our Debt Advisory team has advised bathroom products manufacturer Kartell on a £1.5 million investment from Greater Manchester Combined Authority (GMCA).
The £1.5 million injection will support Kartell’s international growth plans and secure an increase in jobs and skills at its Northern Distribution Centre in Hindley Green, Wigan.
The investment follows Kartell’s multi-million-pound acquisition of Just Trays, one of the largest shower tray manufacturers in the UK, in June last year. FRP advised on the deal, which saw the 30-year-old Leeds-based company join the Kartell group to drive further expansion across the UK and overseas.
Our Debt Advisory team was led by Director Andy Pickford. The team previously advised on the acquisition and debt raise of Just Trays in June.
Andy said: “It’s a pleasure to have supported the team at Kartell through a significant period of growth, and to have helped to secure its latest milestone. The business continues to make impressive strides in the UK and worldwide, and GMCA’s £1.5 million boost will support additional local jobs, and further propel Kartell onto the global stage.
“With its wealth of talent and rich industrial heritage, the North West remains a globally-renowned manufacturing hub, so it’s fantastic to see continued strong support from regional investors.”
Alex Norford, Managing Director at Kartell, added: “We’re proud to have attracted the backing of GMCA, which will be vital in helping us to expand our global reach and market share in the UK.
“Andy and the team at FRP have exceptional knowledge of the manufacturing industry in the North West, and their insight and negotiation skills proved invaluable in allowing us to secure this significant investment.”
Cllr David Molyneux, Portfolio Lead for Investment & Resources, said: “We’re pleased to be supporting Kartell in its next phase of growth, and in securing the Wigan site as a key part of their future as a company.
“Kartell is well placed to continue their international expansion, and this investment will in turn allow the business to further invest in high quality jobs and skills right here in our city-region.”
Founded in 2008, Kartell is one of the largest and fastest-growing suppliers of bathroom products to the independent merchant and showroom sector. With sites in Bedford, Leeds and Wigan, the group has a turnover in excess of £70 million and employs more than 300 people.
The GMCA is made up of the ten Greater Manchester councils and the Mayor, who work with local services, businesses, communities and other partners to improve the city-region.
Greater Manchester Combined Authority has invested more than £600 million since the funds were launched in 2015, and has supported the creation of thousands of local jobs, quality homes, and the best commercial spaces. This includes £150 million invested into more than 220 regional businesses, creating and safeguarding more than 8,000 jobs.
Acquisition Finance and Growth Capital raising
With its wealth of talent and rich industrial heritage, the North West remains a globally-renowned manufacturing hub, so it’s fantastic to see continued strong support from regional investors.Andy Pickford Debt Advisory