Bathroom firm planning expansion after landing £1.5m investment
A bathroom products manufacturer is planning to expand it North West distribution centre after landing a £1.5m investment.
Kartell received the investment from the Greater Manchester Combined Authority (GMCA).
The cash injection will support Kartell’s international growth plans, and expansion at its Northern distribution centre in Hindley Green, Wigan.
The investment follows Kartell’s multimillion-pound acquisition of Just Trays, one of the largest shower tray manufacturers in the UK, in June last year.
FRP’s debt advisory team, led by Andy Pickford, advised on the deal, which saw the 30-year-old Leeds-based company join the Kartell group to drive further expansion across the UK and overseas, and continued to support Kartell with the latest investment.
Andy said: “It’s a pleasure to have supported the team at Kartell through a significant period of growth, and to have helped to secure its latest milestone.
“The business continues to make impressive strides in the UK and worldwide, and GMCA’s £1.5million boost will support additional local jobs, and further propel Kartell onto the global stage.
“With its wealth of talent and rich industrial heritage, the North West remains a globally-renowned manufacturing hub, so it’s fantastic to see continued strong support from regional investors.”
Alex Norford, managing director at Kartell, said: “We’re proud to have attracted the backing of GMCA, which will be vital in helping us to expand our global reach and market share in the UK.
“Andy and the team at FRP have exceptional knowledge of the manufacturing industry in the North West, and their insight and negotiation skills proved invaluable in allowing us to secure this significant investment.”
David Molyneux, portfolio lead for Investment & Resources at GMCA, said: “We’re pleased to be supporting Kartell in its next phase of growth, and in securing the Wigan site as a key part of their future as a company.
“Kartell is well placed to continue its international expansion, and this investment will in turn allow the business to further invest in high quality jobs and skills right here in our city-region.”