Avocet
MBO of Avocet
Acquirer / Funder
Hotbed
Value
£22m
Deal Type
MBO
Sector
Manufacturing
Location
UK
Overview
Deal announcement:
"Eastwood Anglo advised on the MBO of hardware supplier Avocet Hardware backed by Hotbed
The firm manufactures and distributes locks, handles and other hardware for windows and doors as well as fixtures such as screws and nails through its door and window, and hardware divisions.
Ian Jones and Michael Tuck bought the firm from its US parent Masco Corporation, a supplier of kitchen cabinets and bathroom furniture. Jones moved into the role of CEO from finance director, and Tuck took on the role of managing director in the hardware division. Kevin Harvey, a former sales director of Avocet, rejoined the company as managing director in the door and window division.
Avocet operates two divisions; the door and window division manufactures door and window hardware in its two factories in China for PVCu windows, doors and conservatories. The hardware division sources and imports fixings and hardware products from overseas for the UK DIY and builders’ merchants markets.
It supplies DIY retailers including Focus, Wickes and B&Q. "
