Leicester kitchen appliance firm sold to multinational giant
JPD Contracts, a Leicestershire company which supplies and fits gas and electrical appliances to the UK home builder industry has been sold to Newbury Investments (UK) for an undiclosed sum.
Newbury Investments (UK) is part of a family business which trades extensively across North America, UK and Australia in the distribution space. Its trading companies in the UK include Deta Electrical, UK Cables and UK Electric.
JPD Contracts, which is based in Coalville, is a supplier of domestic kitchen appliances to various markets including the new build house market and providers of retirement and student accommodation. It has 40 employees and a turnover of £15.3m. JPD supplies leading brands including AEG, Electrolux, Zanussi, Bosch, Neff, Siemens, Smeg, Whirlpool, Indesit and Beko.
John Evans, exiting shareholder of JPD Contracts who bought the firm in a management buyout in 2014, said: “I am delighted to have completed the sale of the company and I am confident that the business will continue to grow with the backing of Newbury and through the complimentary distribution experience they have within their group. It is very much business as usual for all our customers, suppliers and staff.”
The Leeds corporate finance team at Mazars advised JPD. Rob Burton, corporate finance partner at Mazars said: “We were delighted to continue our relationship with John and help him exit the business following our assistance on the management buyout he led in 2014. JPD has experienced fast growth since then and with the complimentary synergies and experience of Newbury Investments we expect the business to go from strength to strength.”