Gloucestershire-based MX Group sold to Kartell UK
Our Corporate Finance team has advised Kartell UK Limited (Kartell), one of the largest and fastest-growing suppliers of heating and bathroom products to the independent merchant and showroom sector in the UK, on its acquisition of Marleton Cross Limited, together with its subsidiaries which trade as the MX Group.
Headquartered in Tewkesbury, Gloucestershire, MX Group is one of the leading manufacturers of shower trays in the UK market.
The business was founded in 1974 by its chairman, Bernard Robinson, who will continue to support the business in a consultancy capacity. It has grown to become a well-known supplier to the shower industry, and now employs more than 150 people.
Founded in 2008, Kartell is a significant supplier of radiators, designer towel warmers and bathroom products to the independent and merchant showroom sector in the UK. The group turns over in excess of £135 million under brands K-RAD, K-VIT, JT, Vogue and Summerbridge. It employs more than 500 people across principal sites in Bedford, Wigan, Willenhall, Hull and Leeds.
The group management team will work closely with the MX Group team to develop the business in the UK and internationally, with the group expecting continued growth across its core markets.
Our Corporate Finance team provided buy-side advisory services to Kartell. Led by Partner Harry Walker, our team led negotiations and supported the project at all stages to deliver a successful acquisition.
The transaction is the latest Kartell growth milestone that our Corporate Finance team has supported on. Our team has previously advised on its acquisitions of Vogue UK, UK Bespoke Manufacturing, Summerbridge Holdings and Just Trays, as well as raising finance from Shawbrook Bank and GMCA.
Harry Walker, Partner at FRP Corporate Finance, said: “It is a pleasure to once again support Alex and the team at Kartell in securing a strategic acquisition. Over the last five years, we’ve watched the growth and development of the group and been pleased to play a part in their success. We wish everyone at the MX Group and Kartell all the best, and are confident that they will thrive as a combined team to the benefit of all their stakeholders.”
Alex Norford, CEO of Kartell, said: “The MX Group is a long-established and well-respected name in the industry, with a reputation for quality and innovation in showering. We are proud to be taking on the business and look forward to working closely with the team at MX Group to continue Bernard’s legacy and offer our customers an improved range of product options. In addition, we are pleased to play our part in securing the future of the UK shower tray manufacturing industry, given the pressures the sector has been under in recent years. Harry and the FRP Corporate Finance team expertly handled the process and provided exceptional counsel throughout – we’d like to thank them for their long-term support of Kartell’s growth.”
Industrials & Manufacturing
Buying a business
Over the last five years, we’ve watched the growth and development of the group and we’re pleased to play a role in their success.Harry Walker Corporate Finance