The buyout of Moores, the 70-year-old kitchen, bedroom and bathroom business, was led by chief executive Steve Parkin (pictured) along with other members of the company’s existing management team.
Masco Corporation, which owns Hansgrohe, Bristan and Heritage, acquired the business in 1996. In August it reported a 3% increase in sales to $2.1 billion (£1.5bn) in Q2, compared with the same quarter last year.
According to a statement released by Moores, it’s “business as usual” at the company’s manufacturing site in Wetherby, West Yorkshire. It also said that Hilco Capital’s investment would “support the Moores management, bringing further expertise to their already successful client-focused growth strategy”.
“It is our objective to continue to develop enduring partnerships with our suppliers and customers and further enhance our industry-leading client service proposition,” said Parkin. “The business has been transformed. We have a strong management team, a clear focus, robust processes, new and contemporary products and a best-in-class customer service. We have already seen our order book growing with our key customers because of this investment and we expect this to continue as we go forwards.
“We would like to thank Masco Corporation for its support since 1996 and in helping us identify the right investment partner as we look toward the future.”