Premium kitchen retailer and manufacturer Harvey Jones has announced it has been acquired in a management buyout.
The buyout was led by managing director Darren Woolsgrove and was backed by Coniston Capital.
The buyout will see the exit from the business of majority shareholders John Curwen and Andrew Kretzschmar.
The move comes just weeks after iconic luxury kitchen furniture manufacturer Clive Christian Furniture was bought out by its former global sales director Phil Cole and Jim Denos, the owner of three US Clive Christian Furniture franchises.
Commenting on the buyout, Woolsgrove said: “The team and I are delighted to be working with Coniston and Adrian, and we are excited to be collaboratively working with them in Harvey Jones’s next phase of development.”
Harvey Jones, which was founded in 1977, manufactures handmade premium cabinetry in its Cambridgeshire workshop, which is sold through 28 retail outlets nationwide and with Coniston’s backing plan to expand further.
The business is led by managing director Woolsgrove who will now lead the business through the next phase of its development. He will be supported by the incumbent executive board of operational director James Hadingham, sales director Matt Dagworthy, creative director Melissa Klink and marketing director Olivia Faranda.
Adrian Fawcett from Coniston Capital will become non-executive chairman and has 20 years’ experience in similar roles across multiple sectors, among them bed and mattress manufacturer Silentnight Group.
Josh Henshaw from Coniston Capital will join the Harvey Jones board . He said: “Darren and the team have built an impressive business and offer a high-end, specialist service in an exciting market. This combination made the company an attractive investment proposition and we look forward to working with them to continue to drive growth.”