Highbourne, a personnel that already involves City Plumbing Affords (CPS) and Plumbing Replace Affords (PTS), has taken over Plumbworld.
The deal was motivated by Highbourne’s desire to add retail customers (B2C) to its existing swap (B2B) customer contaminated.
Plumbworld was basically based in 1999 by James Hickman and provided to Grafton Community in 2006. Mr Hickman sold it support all over again in 2019, with inner most equity backing from Panoramic Enhance Equity. Its decent name is On-line Dwelling Retail Ltd. In 2020 it turned over £61m from gross sales of loo, kitchen, plumbing and heating merchandise and made a pre-tax profit of £3m.
Highbourne Community is moreover inner most equity owned, by HIG Capital, which obtained the plumbing pursuits of Travis Perkins final yr for £325m and role up Highbourne as a maintaining company.
Dave Evans, chief executive of Highbourne Community, said: “The acquisition of Plumbworld enables us to take our confirmed swap customer proposition and market leading supply chain to retail customers too – that method that we are in a position to present customers for the duration of the UK with even sooner access to what they need, when they need it.”
Plumbworld chief executive James Hickman, who has now provided his industrial twice, said: “The combination of Plumbworld into the Highbourne Community is an exhilarating new chapter for our industrial. The Highbourne Community are growing precise momentum available within the market and I see mountainous possible for Plumbworld as piece of that relate opinion.”
Obtained a story? Electronic mail [email protected]
