MBO at home improvement firm sees experienced team take over
QEP-UK, the owner of tiling, flooring and hardware home improvement brands such as QEP®, Roberts®, Vitrex®, Tile Rite®, Plasplugs®, Homelux®, XPS Foam™ and Kraus®, has been acquired in a management buyout.
The Burton business is now owned by the Boyce Family Group. Paul Boyce has been a member of QEP’s group management team for the past 14 years, having most recently served on the firm’s US board of directors as CEO of international operations.
The management team will continues to be led by Boyce as CEO. He has been supported in the transaction by FD Steven White and newly appointed COO Cam Gradwell.
QEP-UK products are sold in a number of home improvement stores, including B&Q, Wickes, Topps Tiles, Screwfix, Homebase and Travis Perkins, along with a wide-reaching independent retailer network.
The management team has acquired the UK business from US-listed QEP Inc and will continue to trade under the name QEP-UK.
A PKF Smith Cooper transactional tax team, led by Adam Rollason, advised on the deal.
Darren Hodson and Josh Gurton provided deal support to the management team, alongside Dahren Naidoo from Freeths.
Boyce said: “PKF Smith Cooper were there from the inception of this deal to the end, providing strategic and technical advice throughout. Darren and Adam worked seamlessly alongside PKF SC’s range of tax specialists to ensure the transaction went as smooth as possible. We are excited about the future prospects of QEP-UK under our ownership.”
Rollason, Tax Partner at PKF Smith Cooper, added: “I am delighted to have supported Paul and Cam on this transaction. I have no doubt that under its new ownership structure, QEP-UK will go from strength-to-strength over the next few years, and I wish them all the very best for the future.”
