Mon, 23 Jun 2014 | MBO/MBI
The management at Yorkshire firm Just Trays (JT) is preparing to purchase the business from Gresham Private Equity. Maven Capital Partners has made a multi-million pound investment to back the deal.
Founded in 1988, JT is a major manufacturer of shower trays and related accessories. Product design, development and production are carried out at its main site in Leeds.
Its customers are trade partners in the construction and housing market. The manufacturer pioneered the first acrylic capped shower tray, the first tray that incorporates adjustable, concealed legs, amongst other industry firsts. It offers over 200 shower trays in six ranges, the JT website says.
The current management team previously carried out an MBO, supported by Gresham and RBS, in 2006. This latest investment from Maven will help to drive JT’s growth plans, to boost sales through export markets, and to develop new routes to market and widen its range of products.
Despite the construction industry at large being hit by a fall in trade during the recession, JT’s finances stayed in the black and cash generative throughout the period. Ryan Bevington, investment director at Maven said: “We believe it is now well placed to capitalise on its position as the UK’s leading shower tray brand.”
JT’s managing director Paul Crossley added: “The timing was right for everyone concerned for JT to find a financial partner to back the next stage of our growth strategy, as we look at new routes to market, overseas expansion and bolt-on acquisitions.”
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