FRP, the specialist business advisory firm, has advised bathroom products manufacturer Kartell on a £1.5m investment from Greater Manchester Combined Authority (GMCA).
The £1.5m injection will support Kartell’s international growth plans, and expansion 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’s debt advisory team, led by Andy Pickford, 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, and continued to support Kartell with the latest investment.
Andy Pickford, director at FRP, 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 £1.5m 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, said: “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.”
Founded in 2008, Kartell is a supplier of bathroom products to the independent merchant and showroom sector. With principle sites in Wigan, Bedford and Leeds, the group has a turnover in excess of £70m and employs more than 300 people.