Avocet continues investment
THE Jain family has invested a further £2.1m in Avocet Hardware.
This latest investment takes the total amount invested since it bought the Brighouse-based company out of administration in February 2012 to £10.6m.
The money is aimed at ensuring stock levels across the company’s door and window, ABS high security locks, and builder hardware divisions are high enough to ensure complete customer satisfaction when it comes to product availability and delivery.
Dr Tinkle Jain, director of Avocet Hardware, said: “Since buying Avocet we have invested heavily in order to place the company in a position where we can legitimately lay claim to once again being the leading player in the home window and door security market.
“We now have the team, the product and the product availability to confidently state that the Avocet Hardware house is well and truly in order.”
The Jain family has business interests in Malaysia, Indonesia, India, China and the UK, which in total employ over 5,000 people and turnover £416m per year. It also owns over £100m of real estate in India, the UK and the United States.
In recent years, the family has come to specialise in rescuing stricken companies.
Its most recent UK success story being the purchase of tool and garden equipment manufacturer, Eliza Tinsley. The Black Country firm went into administration in 2006, was promptly bought by the family and returned to profitability in its very first year of operation.
“We’ve now been involved with Avocet for over a year and a half and are well on our way to adding it to our growing list of success stories,” added Dr Jain.
