Management Buyout Of Midlands Based Tiling Supplier

A team of Birmingham funders and advisers have put together the multi-million-pound management buyout of the UK’s leading tile accessory and plastic extrusion manufacturer.

Homelux Nenplas, which is based in Ashbourne, has been backed by the Birmingham office of Aberdeen Asset Managers Growth Capital (AAMGC), with bank finance being provided by Yorkshire Bank. AAMGC has taken a significant minority stake in the company. The deal was arranged by Birmingham-based Kroll Corporate Finance.

Homelux and Nenplas, a leading supplier of extruded and injection moulded plastic products for the Tiling, DIY, Furniture, Caravan and Shopfitting markets, was owned by US-based multi-national Newell Rubbermaid.

Newell Rubbermaid, who owned Homelux Nenplas since 1999, has disposed of the company in order to concentrate on their strategic core business activities.

The management buyout team is headed by Alan Emery, who has had a long career in the Plastics and Home Improvement Industry and was Managing Director of Homelux Nenplas for 15 years. He returns to the company as Chief Executive.

The company’s Commercial Director Rob Butcher, Operations Director Gary Horrobin and Sales Director Ann Quirke will all sit on the board.

The investment by Aberdeen Asset Managers Growth Capital was led by Andrew Ferguson and John Connolly, with Andrew Ferguson joining the Board of Homelux Nenplas.

With our investment in Homelux Nenplas we have backed a management team that has considerable experience and skill at creating shareholder value, and who are leading a company with a defined strategy for turnover and profit growth.

Andrew Ferguson, Board Member

Homelux Nenplas has suffered in recent years from under-investment in product innovation and marketing. We intend to revitalise the Homelux and Nenplas brands through increased investment in the rapid development of new products to create a dynamic, market leading, product range which addresses our consumer and customer needs.

Alan Emery, Chief Executive of Homelux Nenplas

We are delighted to have supported Alan and his team in realising the first stage of their ambition. This buy-out will allow the team once again to focus on delivering innovative product, marketing solutions and quality service.

Gary Ecob, Director at Kroll Corporate Finance

Homelux Nenplas represent solid, quality brands, that we are confident that the Team will further enhance under Alan’s stewardship.

Sue Varley, Yorkshire Bank Acquisition Finance

Other advisers involved in the deal were; Martineau Johnson, who provided legal services to Newco and the management team; KPMG (Birmingham), who provided financial due diligence and advice on operational and separation issues; DLA Piper (Birmingham), legal advisors to AAMGC; HBJ Gateley Wareing (Birmingham), legal advisors to Yorkshire Bank; Bentley Jennison (Birmingham), tax advisor to Newco; Wragge & Co (Birmingham), tax advisor to AAMGC; Sales Blueprint, sales due diligence; MBD, commercial due diligence; Jay Hale Associates, management due diligence; Armstrong Craven, management referencing.

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