Ultimate lining up fresh swoop

NORTH West based Ultimate Products is set to complete another acquisition, which will boost turnover by £15m this year.

The Oldham product sourcing and import company, backed by private equity firm LDC, is trading well and looking for opportunities in Australia, chief executive Simon Showman told TheBusinessDesk.

Mr Showman, who founded the business 12 years ago, said: “We are flying at the moment. We’re suppling the big boys and they’re doing OK.

“The competition is also less than it was and we are doing some more acquisitions. We’ve got two on the go – one of which is very close and will add £15m to our turnover this year.”

In April Ultimate bought digital radio business Intempo, and last summer it swooped for Hong Kong-based sourcing business Active Asia.  

Ultimate’s biggest customers are the major supermarket groups such as Tesco, Sainsbury’s and Asda. It has recently begun suppling homewares to Marks & Spencer.

Mr Showman, who is one of the North West finalists in the Institute of Directors’ Director of the Year competition, said Ultimate’s UK turnover should top £60m this year, excluding the current acquisition targets.

Its Hong Kong subsidiary will have sales of $14m, he added.

Next month he is going to Australia, where he is meeting a number of major companies, including senior executives from Woolworths and Coles Supermarkets.

“It’s really exciting, we’re doing a roadshow in Sydney and the reception has been really positive. We’ve got some very senior people coming along. We’ll set up an office there if we get some business.”

He said Lloyds Development Capital, which invested in his business in 2005, had been a “fantastic partner”.

This year the company has extended its showroom in Oldham and opened a sourcing and quality assurance office in Guangzhou, China.